Oil Prices Slumped Due to US Reserves Data

April 9, 2015

On Wednesday, the world’s financial markets posted mixed results. In Europe, the British FTSE 100 fell 0.35 percent down to 6,937.41 points, the German DAX dropped 0.72 percent down to 12,035.86 points, and the French CAC 40 shed 0.28 percent finishing the trading session at 5,136.86 points.

In Russia, the MICEX index fell 0.71 percent to 1,683.63 points whereas the RTS index advanced 1.76 percent up to 988.30 points.

In the Unites States, the Dow Jones added 0.15 percent reaching 17,902.51 points, the S&P 500 grew 0.27 percent up to 2,081.90 points, and the NASDAQ gained 0.83 percent getting to 4,950.82 points. The rise was linked to the release of the Federal Reserve’s meeting records from March – at this time the Federal Reserve won’t raise the key interest rate but is going to consider it later this year.  

At the same time, oil prices tumbled down yesterday due to reports that US oil reserves reached their max since March 2001. On the NYMEX, the price of WTI oil futures for May plunged by $3.56 altogether and reached $50.42 a barrel. On London’s ICE, the cost of Brent oil futures for May delivery dropped by $3.55 and ended up at $55.55 a barrel.    

On the global currency market, the dollar continued to get stronger against the euro. Nonetheless, the trend hasn’t change drastically – EUR/USD has some leeway within the correction range and thus can still go down to 1.0495.  

Anna Gorenkova, NordFX Analyst


Publication source
NordFX information  NordFX reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

XM Rating
FXCM Rating
Grand Capital Rating
FIBO Group Rating
Larson&Holz IT Ltd Rating
FxPro Rating

Anyoption Rating
Beeoptions Rating
IQ Option Rating
TropicalTrade Rating
365BinaryOption Rating
TopOption Rating