Oil prices kept their strong position for Thursday

Oil prices kept their strong position for Thursday

By: Simon Furman | Where To Trade | On:Thursday, 05 January 2017
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   Oil prices kept their strong position for Thursday, as investors were waiting for the latest news on the stockpiles in United States of America regarding crude oil and refined products.

The U.S. Energy Information Administration to release the weekly report on oil supplies.
Experts and analysts expect for a decrease of 2.2 million barrels. The report was delayed with one day due to holidays. 

  Wednesday, the markets were closed, and after the event the American Petroleum Institute declared that the United States' oil inventories tumbled down by almost 7.4 million barrels for the week ending on 30 December.

  Meanwhile, the U.S. crude oil went up by 3 cents, meaning less than 0.1%, reaching 53.30 dollars per barrel.
The Brent crude oil fell 2 cents, reaching 56.44 dollars per barrel.

Simon Furman

Simon Furman

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Simon Furman is one of the best financial analyst with 27 years of trading experience

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