(missing letter in title added)
SINGAPORE (dpa-AFX) – The recent surge in oil prices was hit hard on Friday. In early trading, the two most important crudes, Brent and WTI, fell significantly. A barrel (159 liters) of North Sea Brent cost $86.88 in the morning. That was $1.50 less than the day before. The price of a barrel of the US West Texas Intermediate (WTI) variety fell by $1.66 to $83.89.
advertising
l, trade gold, all commodities with leverage (up to 30).
Trade commodities with high leverage and small spreads. You can start trading with as little as 100.00 to benefit from the effects of 3,000 euros of capital!
Note on Plus500: 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Plus500UK Ltd is authorized and regulated by the Financial Conduct Authority (FRN 509909). Plus500CY Ltd is authorized and regulated by CySEC (#250/14).
The gloomy mood on the stock markets put pressure on oil prices. Rohl is considered a risky asset class that is often affected by falling stock prices. Observers also referred to US inventory data from the previous day. The American Department of Energy had reported a significant build-up in the country’s oil reserves.
Despite the discount, oil prices remain within reach of their multi-year highs reached this week. A tight supply combined with solid demand provide a boost. The current corona wave seems to have less of an impact on the demand for mineral oil than previous waves, since the omicron variant often causes less severe symptoms and the economic impact has so far been less severe./bgf/eas