Oil prices showed stability on Friday morning after a steady rise the day before. October Brent futures on ICE Futures reached $67.87 per barrel, while the October WTI contract on NYMEX rose to $63.73 per barrel. The market was supported on Thursday by lower expectations of an early settlement of the conflict in Ukraine: the lack of progress has increased concerns about new sanctions against Russia and its partners. An additional growth factor was data from the US Department of Energy: oil reserves in the country decreased by 6.01 million barrels, and gasoline – by 2.72 million, indicating high demand. Today, traders' attention is focused on Fed Chairman Jerome Powell's speech at a symposium in Jackson Hole. The market is waiting for signals of a possible rate cut, which can stimulate the economy and support energy demand.
QUICK LINKS
ForexMart is authorized and regulated in various jurisdictions.
(Reg No.23071, IBC 2015) with a registered office at First Floor, SVG Teachers Co-operative Credit Union Limited Uptown Building, Corner of James and Middle Street, Kingstown, Saint Vincent and the Grenadines
Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.
Contactez-nous 
