www.varchev.com

Oil with a new low after US stocks increased last week

Oil fell in early session today. Brent traded at a price of $ 51.63 a barrel today, down to $ 1.36, while futures for WTI fell by $ 1.37 to $ 46.87 a barrel. The decline comes after last week reaching values up to 6-year lows after it became clear that there was an increase in oil inventories in the largest consumer – the United States.

According to some analysts, the decline is now due to profit taking after the events of last week. Some of them growing speculation that some of the companies for the extraction of oil will cut their budgets, and hence production, may increase the price in the near future.

Varchev Finance


 Varchev Traders


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance