Oil Continues to Rise

Prices continue to increase as supply is limited.

Economic News
2018年7月04日
Oil Continues to Rise

Currently oil prices continue to gradually increase, despite OPEC agreeing to pump more oil at their last meeting a couple of weeks ago. The driver for prices right now are the decreasing oil reserves in the United States. Oddly enough, when OPEC kept production under tight levels, the States were increasing their reserves week after week, but now the roles have reversed. Oil supplies in the US are currently lower because of a facility malfunction in Canada that typically delivers oil to the United States. The estimated drop is about 4.5 million barrels, according to the American Petroleum Institute

As usual, decreases of supply on the market lead to increases in price. The Brent crude was at $77.83, while the light crude reached $73.97.

The issue with the Canadian supplies is set to continue over the next few weeks, so oil reserves might shrink a bit more. We expect the price of oil to steadily rise in the near future.

SuperForex
China Mobile Banned from US Markets

Economic News

China Mobile Banned from US Markets

The US is set to deny China Mobile access to the American market.

SuperForex
2018年7月03日
Europe Ready for War

Economic News

Europe Ready for War

The EU reached out to the US to warn against further tariffs.

SuperForex
2018年7月02日
Oil Rally Continues

Economic News

Oil Rally Continues

SuperForex
2018年6月29日