Oil prices burst a level, while ShComp shows moderate gains

January 12, 2016

Oil prices keep their ordinary bearish routine breaking the last barricade of $31/bbl. before reaching an important $30 level. WTIplunged as low as $30.41 currently hovering in a range of $30.50 – $30.60. In only 10 days, the commodity lost about 20% and rock bottom seems not somewhere near current levels, analysts say.

Brent futures also crashed to a $30.62 level, which it the lowest since April 2004.

According to the latest CFTC report, the disparity between bearish and bullish bets on the commodity increased to 5-year high with bearish bets prevailing. Major world banks like Barclays, Macquarie, Bank of America Merrill Lynch, Standard Chartered and Society Generale reduced forecast on Oil price in 2016.

In 2016, Barclays expects an average WTI price at the level of 37$/bbl. comparing to the last forecast of $56$/bbl. Standard Chartered released the most pessimistic outlook: according to its analysts, the prices may drop to $10/bbl.

The US indices are still depressed with no signs for upturn as the performance of Chinese economy is insufficient and low Oil prices pull the US Oil and pipeline companies down: DJIA -0.17%, S&P 500 -0.16%, FTSE 100 +0.36%.

Chinese index Shanghai Composite is in a moderate gain today (+0.2%) as Chinese government managed to maintain Yuan exchange rate ramping up interventions.

Publication source
Tickmill information  Tickmill reviews

January 24, 2017
UK Supreme Court to deliver verdict on Brexit
The UKs Supreme Court will be giving its verdict in the High Court on whether the Brexit referendum should be put to a parliamentary vote or note. There is a widespread consensus that the Supreme Court will rule in favor of the High Court...
January 24, 2017
Crude oil maintains bullish trend
Oil prices were initially weaker at the start of the new week, but they have now recovered to trade almost flat at the time of this writing. At the weekend, the OPEC and some producers outside of the group met to discuss the progress of their oil production deal...
January 24, 2017
Dollar found its feet after declining over the last day
Asian stock markets were mixed overnight, with Japanese bourses still under pressure (Nikkei closed down 0.55%). despite a dip in the Yen, as USD stabilised. Uncertainty over Trump’s regulatory and trade policies continues to weigh on investor sentiment...

NPBFX Rating
OctaFX Rating
 FXTM Rating
HotForex Rating
XTB Rating
Fort Financial Services Rating

Anyoption Rating
OptionFair Rating
TropicalTrade Rating
365BinaryOption Rating
IQ Option Rating
Dragon Options Rating