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

Brent recovers after yesterday’s fall

 Breaking News
  • Boeing announced the start of massive layoffs The Boeing Company has no choice but to take drastic measures. The world’s largest manufacturer of space and aviation equipment is forced to reduce the number of staff by 13...
  • Serious drawdown of oil quotes Today, oil is actively declining. A very significant increase in the reserves of “black gold” in the United States caused this drop. Moreover, the fears that Russia will not reduce...
  • Swiss watch makers are in crisis Swiss watch exports in April crashed at a record pace the drop has totaled 81% compared with the same period last year. Halting production and difficulties with sales caused by...
  • 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...
Brent recovers after yesterday’s fall
April 15
09:00 2020

Yesterday, oil quotes fell to two-week lows, but today the energy market is showing the expected correction.

At 8:15 Moscow time, futures for Brent crude oil grew by 1.08% and traded at $ 29.9 per barrel. We recall that during yesterday’s trading session, the asset fell by 6.7% and closed the day at around $ 29.6 per barrel.

At the same time, contracts for WTI increased 2.09% and were sold for $ 20.53 per barrel.

As expected, the agreement reached on the future decrease in oil production did not outweigh the global decline in demand for black gold in terms of the degree of influence on the market.

Analysts rightly note that the deal involves a reduction in supply by about 10%, but demand had fallen by 25-30%. This means only one thing – all surplus will be sent to storage.

We recall that the states that are members of the OPEC+ cartel have managed to do the impossible over the weekend. They agreed to reduce daily production by a record 9.7 million bpd. The agreement will begin in May.

Today, the U.S. Department of Energy is due to publish official statistics to demonstrate how the country’s energy stocks have changed over the past week. The data will be another factor that influences the black gold price.

Analysts believe that we should expect an increase in oil reserves by 10.1 million barrels. It is assumed that for the week gasoline in storage has increased by 7.1 million barrels, distillates – by 1.8 million barrels.


The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

Related Articles


No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment