Crude inventories in the United States of America rose by 5.3 million barrels
Crude inventories in the United States of America rose by 5.3 million barrels, shocking markets that had expectations for an increase of 1.5 million barrels. This made crude oil futures drop on Thursday.
According to the U.S. Energy Information Administrations's data, the inventories's climb was possible due to higher imports at 910,000 bpd.
This made the European ICE Brent crude futures to fell 26 cents, to $46.73/barrel.
The Australian bank ANZ released a note that said " Stocks of crude oil jumped 5.27 million barrels, much more than expected". After the weekly EIA showed large rise in inventories, and made the crude oil to fall in a war of survival on the markets, this results came as a shock.
After a meeting with OPEC Secretary-General Mohammed Barkindo, the Venezuelan President Nicolas Maduro declared that OPEC countries are ready to reach an agreement on cutting the oil output.
This decision was supported by Russia, and the Russian Energy Minister Alexander Novak declared that during this week's gas conference in Doha he will discuss with Saudi Arabia's Energy Minister Khalid al-Falih on this topic.
The American Investment Bank declared that it maintains its 2017 Brent forecast at $58/barrel, despite the optimist perspective that OPEC has. The U.S. bank considers that the OPEC's cut is "difficult to achieve".
"Patience is the key for success"
Oliver Miller is one of the best financial analyst with 18 years of online trading experience
On Wednesday, Federal Reserve Chair Janet Yellen spoke about the interest rates and about the United States' economy
The gold prices dropped below $1.200
Taking into account today’s volatile economy GTCM endeavors to provide its clients with a secure trading environment and strong financial services. We aim to establish a strong relationship with our customers by providing them with ease, transparency and accountability on all their account activities
Banc De Binary is home to the 21st century investor. Founded in the wake of the 2008 financial crisis, we set out to provide the simplest, most profitable trading solutions, and have built a following among customers in over 80 countries worldwide. Today, we provide access to the financial markets via our online binary options platform to 250,000 account holders. As a World Finance listed company and multi award-winning firm, we are proud to be able to guarantee a safe and risk-controlled environment for all our valued clients.
HY Markets is a market leader in providing retail and institutional investors with access to foreign exchange and other capital markets. With HY Markets you can trade forex, metals such as gold and silver, energy products such as US oil and natural gas, commodities, indices as well as stocks, all from a single integrated account.
Ikon Markets are an online trading service provider affiliated to the Ikon Group, an acclaimed global network for online financial trading. Prior to the introduction of our online segment. We, at Ikon, have had many years of experience in providing financial trading services to institutional investors, such as banks, large financial institutions and mutual fund companies.