Stock market quotes, forex, financial news, forex tools –

Oil grows because of the data demonstrating US stock reduction

 Breaking News
  • The intensification of the conflict between the USA and China leads to reduction of oil prices The energy market has started the trading session rather unsuccessfully. The next round of the trade war between the States and China caused the price fall. Because of this investors...
  • Germany saves Lufthansa An air carrier Deutsche Lufthansa AG has suffered losses because of the spread of the coronavirus pandemic. It became known that the German government had not left the matter unattended...
  • Israel economy sets anti-records Israel is a recognized high-tech paradise, a stable and strong platform for business development. However, the economy of the country in the Middle East has failed to resist the consequences...
  • A car rental service Hertz went bankrupt Hertz, the largest US car rental company, has filed for bankruptcy. The company was founded already in 1918. For a hundred years, Hertz has coped with the Great Depression, the...
  • Monday starts with the growth of oil prices The energy market started today’s trading session with the steady growth. Quotes are increasing on the signals about the recovery in demand and a decrease in production in the States....
Oil grows because of the data demonstrating US stock reduction
December 12
09:00 2018

Oil price was rising during the trading session on Wednesday. The reason for the growth was the data on the fuel reserves in the United States.

February contracts of Brent have grown by 1% – to the value of 60.8 US dollars per barrel. At the last session, their price grew by 0.4% totaling $ 60.2.

January contracts for WTI crude oil have grown by 1.2% to $ 52.2. At the last session, they grew by 1.3% and closed the day at $ 51.7.

According to the API report, the reserves of “black gold” have decreased by 10.2 million barrels. If the Ministry of Energy confirms this information, the decline will be not only the second in a row, but also the largest over the past few months.

Analysts believe that the decline will be more moderate and talk about a figure of 3.5 million barrels.

Another reason for the market growth was the news of China’s willingness to reduce tariffs on imported American cars to 15%. Such a step will be the first specific action in working out a solution to the conflict between the powers.

Daniel Hines, strategist at ANZ Banking Group, believes that the oil price will rise due to the observed changes in the negotiations between America and China.


The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

Related Articles


  1. Kevin Crowson
    Kevin Crowson December 28, 10:46

    Is anyone aware of the deadline for the Stephenson Harwood Training Contract Application? Happy Holidays and many thanks for your friendship and support

    Reply to this comment
  2. fletcher
    fletcher April 06, 23:52

    Hi there! I just want to give you a huge thumbs up for your excellent information you have right here on this post.
    I will be coming back to your website for more soon.

    Reply to this comment

Write a Comment