Oil Prices Lower Again

The higher prices encouraged the US to up their production, causing a new decrease in the value of oil.

Economic News
23. Nov. 2017
Oil Prices Lower Again

There seems to be no peace for traders interested in oil, as the asset continues to sway up and down in value these days.

Investors were recently encouraged by expectations that OPEC will choose to continue its current policy to reduce oil output at their upcoming meeting on November 30. This, as well as recent developments in Saudi Arabia where the crown prince strengthened his political position, have been generally good to the prices of oil, which climbed to 2-and-a-half year highs.

Now the prices have began to ease off once again. This time the decrease was caused by an increasing extraction of oil in the United States. The country has been using policies that are at odds with OPEC’s efforts, so investors fear that the rising oil prices only reinvigorate the Unites States’ appetite for oil, leading them to increase production every time.

The Brent crude was at $62.92, while the WTI was near $57.86.

SuperForex
Holidays in the US and Japan Today

Economic News

Holidays in the US and Japan Today

In the United States Thanksgiving is celebrated today.

SuperForex
23. Nov. 2017
The Euro Surprises Investors

Economic News

The Euro Surprises Investors

The single currency is moving up, despite bad political news from Germany.

SuperForex
22. Nov. 2017
Will the Target Level of Inflation Be Reached?

Economic News

Will the Target Level of Inflation Be Reached?

Stock indices are updated.

SuperForex
22. Nov. 2017