Analytical Reviews

Get the latest economic news from ForexMart, including updates on the financial market, central bank policy announcements, financial indicators, and other relevant news which can impact the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

Oil ends the week with a decline


August, 18 2023
watermark Economic news

On Friday morning, oil prices are relatively stable at $84 per barrel. At the same time, the asset ends the week with a decline amid weak statistics from China and signs that the US Federal Reserve may continue tightening monetary policy. 


The current Brent quote is $83.81 per barrel. North American WTI oil is trading near the level of $80.20 per barrel. 


Last week, expectations of a «soft landing» in the US economy pushed oil prices to their peak values since the beginning of 2023. Then Brent was trading above $87.50, and WTI was trading above $84.50 per barrel. The current week was full of less favorable news for the oil market, contributing to the growth of concerns about the Chinese economy and the real estate market. Which, in turn, dampened optimism about global economic growth. 


And statistics from the United States, also released this week, reduced the likelihood of an early end to the cycle of rate increases in the country, which caused the yield of ten-year treasury bonds to rise to the highest since 2007. Analysts note that the current bond indicators suggest a prolonged retention of high Fed rates, which may slow down economic growth and reduce oil demand in the coming months. 


Since the beginning of the week, Brent has lost more than 3% in price, and WTI has lost more than 2%.


コメントする

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at Shamrock Lodge, Murray Road, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2024 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.
Foreign exchange is highly speculative and complex in nature, and may not be suitable for all investors. Forex trading may result in a substantial gain or loss. Therefore, it is not advisable to invest money you cannot afford to lose. Before using the services offered by ForexMart, please acknowledge the risks associated with forex trading. Seek independent financial advice if necessary. Please note that neither past performance nor forecasts are reliable indicators of future results.