Oil Prices Near 80 USD Again

October 23, 2014

Yesterday world financial markets finished trading mixed. European floors closed on the rise due to the ECB’s announcements about enhancing stimulus measures. Wednesday’s trading resulted in the British FTSE 100 gaining 0.43 percent up to 6,399.73 points, the German DAX 30 advancing 0.6 percent up to 8,940.14 points and the French CAC 40 growing 0.58 percent and wrapping up the day at 4,105.09 points.

In Russia, the MICEX index grew 0.51 percent up to 1,383.35 points, and the RTS index picked up 0.68 percent closing at 1,063.86 points.

In the United States, the Dow Jones Industrial Average, on the contrary, fell 0.92 percent down to 16,461.32 points, the Standard & Poor's 500 dropped 0.73 percent down to 1,927.11 points while the NASDAQ Composite shed 0.83 percent down to 4,382.85 points.

On the NYMEX, the price of WTI oil futures for December got lower by $1.97 reaching $80.52 a barrel. On London’s ICE, the December future for Brent oil went down by $1.51 and ended up at $84.71 a barrel.

On the Forex market, the dollar is getting stronger again. EUR/USD keeps moving within the correction range and towards its bottom boundary, i.e. a new peak of 1.2510.

Anna Gorenkova, NordFX Analyst

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