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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Brent crude oil exceeded $49 for the first time since March

November, 26 2020
watermark Economic news

The price of January Brent oil futures rose above $ 49 per barrel for the first time since March 6, when prices began to collapse. The current quote for the asset is $47.90.


Prices were supported by yesterday's data from the US Department of Energy, according to which commercial oil reserves in the country fell by 0.8 million barrels, contrary to expectations of an increase of 0.1 million.


An additional positive comes from the news about the development of vaccines against coronavirus. The effectiveness of several drugs from COVID-19 is assessed as high, which gives investors hopes for a faster recovery of the global economy.


We recall that in March, oil quotations fell sharply after the OPEC+ countries were unable to agree on changing the parameters of the agreement on the reduction of black gold production or its extension.


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Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.