Oil in the Red Again

December 1, 2014

Last Friday the world’s financial markets closed mixed. In Europe, the British FTSE 100 shed 0.01 down to 6,722.62 points, the German DAX 30 grew 0.06 percent up to 9,980.85 points, and the French CAC 40 added 0.18 percent closing at 4,390.18 points.

On the Russian market, the MICEX index gained 0.13 percent up to 1,533.68 points whereas the RTS index plunged 3.2 percent down to 974.27 points.

In the United States, the Dow Jones didn’t change much closing at 17,828.24 points, the S&P 500 fell 0.25 percent down to 2,067.56 points while the NASDAQ grew 0.09 percent up to 4,791.63 points.

On the NYMEX, the price of the WTI future slumped by $3.06 reaching $65.99 a barrel. The ICE price of the Brent oil future went down by $2.80 and made $70.02 a barrel.

On the Forex market, EUR/USD still can’t find an impetus for breaking out of the correction range 1.2510-1.24. However, according to the technical picture, the dollar may continue its rise.

Anna Gorenkova, NordFX Analyst

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