OctaFX | OctaFX Forex Broker
Open trading account

Oil: Market to be flooded – TDS

Saudi Arabia's decision to slash oil prices and boost output triggered the largest single day drop in oil prices since the 1990 Gulf War and economists at TD Securities are expecting an oil flood in the market.

Key quotes

“WTI crude is down more than 20% to $33/bbl, and follows on a 10% decline on Friday.” 

“The inability for Saudi Arabia and Russia to come to an agreement at OPEC talks held last week (Saudi Arabia wanting cuts, Russia pushing back on cuts) has effectively put an end to the co-operation between these two countries that had supported oil prices since 2016.”

“It is speculated Saudi Arabia may raise output above 10m barrels a day to as high as 12m barrels from next month with the high likelihood the Russians will flood the market with oil as well.”


AUD/USD extends intraday recovery from 11-year lows, back near 0.6600 mark

The AUD/USD pair has now moved to the top end of its daily trading range, with bulls now looking to build on the momentum further beyond the 0.6600 le
Read more Previous

USD/CHF: 2018 low reached – Commerzbank

USD/CHF has reached the .9188 2018 low. This should hold the initial test, in the opinion of Karen Jones from Commerzbank. The pair is currently tradi
Read more Next
Start livechat