country flagالعربية
0

Oil prices continue to fall to its lowest level in five weeks

2018-02-09 12:43 pm | Resource: NEWS | No Views : 165



Oil futures are continuing to decline in Friday's mid-European session as Brent crude fell 0.86% to reach $ 64.25 a barrel. US crude fell 1.26% to reach $ 60.40. Compared with the opening levels at 60.44, the highest at 60.65 and the lowest at 60.34. Brent crude was the most active at 64.22, the highest at 64.46 and the lowest at 64.15.

US crude oil futures ended yesterday's session down 2.1%, the second consecutive daily loss, recording a five-week low of $ 60.26 a barrel. Brent fell 1.9% and hit a two-month low of $ 64.09 a barrel. This week, oil prices so far lost 7%, close to the second weekly loss in a row, with the biggest weekly loss since March 2017.

The declines came after the release of data from the US Energy Information Administration released on Wednesday, which shows the rise of US production to 10.25 million barrels per day last week, reaching its highest level ever, beyond the production of Saudi Arabia, and for US crude stocks lost last week increased by 1.9 million Barrels, the second weekly increase in a row, bringing total inventories to about 452 million barrels, the highest level of stocks this year.


Other analysis

OIL Technical analysis 19 October 2018

Time frame Used - four hours Oil is moving in a bearish direction in the near term The bears managed to control the movement of oil to break the support level around the level of 70.46 down to reach the bearish target around the level of 68.27 forming a positive candlestick pattern   In view of the technical indicators Both the RSI and the Stochastic are indicating the arrival of…

More analysis

Best trading brokers

All Rights Reserved
Risk Disclaimer: Trading in foreign exchange market (Forex) includes the risks and the possibility of loss. That is why we are keen on providing the highest quality news and analysis concerning the different markets traded. The opinions expressed in the site indicate the opinion of the author only and not the views of the administration or the public, knowing that errors could be encountered and there is a possibility to commit them. Before starting to trade you should carefully consider your investment objectives, and review the level of experience and risk appetite. In some cases, possible high leverage can lead to loss of funds invested, so you can not invest money that you can not handle its possible loss. You should be aware of all the risks associated with foreign exchange trading and seek for advices from an independent financial advisor if you have any doubts.TradingPekk.com does not assume any responsibility after the occurrence of financial loss to the dealer and the user carries full responsibility for the losses resulting from the use of news, analysis and data on the site.