Oil is trading in red with weak retail growth in China

2019-02-11 08:32 am | Resource: NEWS | No Views : 122

Standard oil delivery prices fell on Monday, as a low-level US delegation was preparing to meet with its Chinese counterparts in Beijing for preliminary discussions ahead of the next round of comprehensive bilateral negotiations. Traders showed concern about the outcome of the talks, but also because of the fall in retail sales growth in the nation's largest population last week, during the Lunar New Year holiday.

Official data showed that its size remained strong at 8.5 percent to 1.01 trillion ($ 149 billion), but the rate fell 1.7 percentage points to its lowest level since 2005, when the government began tracking it.

Baker Hughes rising US oil platform by 7 to 854

The number of oil platforms in the United States rose by 7 percent in the week ending February 8, to 854 from 847 last week, Baker Hughes said on Friday. On an annualized basis, there were more than 63 oil diggers and 11 gas drilling machines.
There are three less gas rigs in the same week, up to 195, in the United States.
In Canada, the number of oil rigs fell by one to 158
While the number of gas drillings 82, less than the previous week. Year after year, Canada lost 63 oil platforms and 22 gas platforms in the latter

IMF representatives expressed growing concern about the health of the global economy. Market participants also follow developments in the US Congress, where Democrats and Republicans fail to agree on spending legislation on border security.

Trading futures contracts for oil

Western Texas crude for January delivery fell 0.97% to $ 52.21 a barrel at 8:47 CET.
Brent crude for April delivery fell 0.42% to $ 61.84 a barrel.

Other analysis

Best Opportunities, Vision and Technical Analysis for The Oil 17 April 2019

(CURDE OIL - WTI ) We offer you oil analysis denominated by US dollar on Wednesday, April 17, 2019, with the most important forecast for the price of oil denominated by US dollars in the market. Time frame Used - four hours Oil is moving in a sideway direction in the near term. The purchasing power managed to push oil higher to close at the end of trading today, rising…

More analysis

Best trading brokers

Most views

Recommended companies

Forex Articles

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.