Oil Prices May Go Up Today

August 11, 2014

Last Friday world financial markets closed mixed. European stock indices ended up in the red zone: the British FTSE 100 fell 0.45 percent down to 6,567.36 points, the German DAX dropped 0.33 percent down to 9,009.32 points, and the French CAC 40 shed 0.05 percent closing at 4,147.81 points.

In Russia, the MICEX index grew 1.1 percent up to 1,348.21 points, the RTS index gained 1.1 percent as well reaching 1,170.60 points.

American indices also closed on the rise: the Dow Jones advanced 1.13 percent up to 16,553.93 points, the NASDAQ gained 0.83 percent up to 4,370.90 points, and the S&P 500 grew 1.15 percent going up to 1,931.59 points.

On the NYMEX, the price of the September WTI oil future rose by $0.31, up to $97.65 a barrel. On London’s ICE, the price of the Brent oil future for September went down by $0.42 and stopped at $105.02 a barrel.

Today oil prices may be significantly influenced by the situation in Iraq, in particular in case of further US air strikes.  

On the Forex market, EUR/USD is at a standstill for the time being.

Anna Gorenkova, NordFX Analyst

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