OctaFX | OctaFX Forex Broker
Open trading account

Oil fall resumes, geopolitical risk premium evaporates

FXStreet (Mumbai) - Oil prices fell on Wednesday as the financial markets reversed the risk-off moves witnessed on Tuesday on account of Middle East tensions.

Oil prices had strengthened on account of the geopolitical risk premium, which was erased today. At the time of writing, the Brent Jan futures were down 2% at USD 45.19/barrel. WTI Jan futures were down 1.74% at USD 42.12/barrel.

The prices also came under pressure due to the American Petroleum Institute (API) data released yesterday, which showed another build-up of 2.6 million barrels in US stockpiles. The oil traders now wait for the US weekly government inventory data due later today.

RBA seen ‘on hold’ through 2016 – Westpac

According to Sean Callow, Strategist at Westpac Global Strategy Group, the RBA could refrain from acting on the domestic monetary front throughout the next year....
Read more Previous

Sell EURCAD with USDCAD steady in a range - TDS

Research Team at TDS, suggests that the USDCAD remains largely confined to familiar ranges between 1.3250 and 1.3370, a region where it has spent most of the last few weeks.
Read more Next
Start livechat