- Advertisement -spot_img
HomeBusinessRaw materials, foreign exchange, Oil prices will fall - economy

Raw materials, foreign exchange, Oil prices will fall – economy

The Oil price recovery this week was short-lived. Even the strong decline in US Oil reserves is not stabilized the quotations. The gold price remained within reach of his Eight-year highs.

Oil prices fell on Friday. A Barrel (159 litres) of North sea Brent hit with 42.78 Dollar was 0.8 percent less. The price of the US WTI crude also fell by 0.8 percent to 40,32 dollars. Market observers spoke of a counter-movement, after the Oil prices in the course of the week, also rose substantially. Among other things, a sharp decline in the Oil reserves in the United States had provided a boost. A pulse arms trade in the Oil market. In the USA, the financial markets remained closed on the day before the national holiday on Saturday and fell as a pulse generator. A renewed decline in the conveyor systems in the United States gave Oil prices a further boost. The American equipment company Baker Hughes had previously reported that the number of used oil wells to be sunk within a week to three to 185. Since March, the number of active drilling rigs has decreased drastically. The cause of the oil price slump is. The lower price level makes the relatively expensive Fracking-promotion, which is widely used in the United States unprofitable.

The “anti-crisis currency” Gold remained in demand. The precious metal held with a price of 1775 dollars per Troy ounce, within reach of its recent Eight-year highs. The growing tensions between the US and China supported prices, said Analyst Jeffrey Halley from the broker Oanda.

The Euro hardly moved from the spot. Early in the afternoon, the community currency cost 1,1243 dollars, and roughly as much as the day before. The exchange rate fluctuations between the Euro and the Dollar was unusually weak. Easily, the Euro was supported by solid economic data. In both China and in the Eurozone the mood in the service sector brightened noticeably.

Jerry Rolon
Jerry Rolonhttps://etrendystock.com/
After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

Must Read

Related News