empty
05.10.2020 10:16 AM
Oil wins back losses of the previous week

This image is no longer relevant

Crude oil prices jumped Monday morning after the global contraction last week. Colossal losses were recorded: the benchmark Brent brand immediately parted 8%, and WTI sank by 7.4%.

On the last business day last week, news broke that US President Donald Trump tested positive for COVID-19 which had a rather serious impact on the oil market. Trump himself announced positive test results on his Twitter account. Literally immediately there was a collapse in the cost of raw materials, which led to such a significant decrease in its cost.

Moreover, over the past weeks, the news of an increase in the number of COVID-19 infections in the world has stirred investors. The situation is especially acute in European countries and the United States of America. The second wave of the pandemic has practically become a reality there. The introduction of a new portion of restrictive quarantine measures is becoming a direct threat to economic recovery from the consequences of the first, spring wave of the pandemic. In this regard, the news of Trump's test results and some members of the White House turned out to be the icing on the cake, which led to an increase in the panic state of market participants. Of course, the drop in oil prices, in this case, was inevitable.

However, a reverse process began this morning, and the raw materials will gradually regain their positions, especially since Trump's health condition, according to his attending physician, is not in danger: he is on the mend and very soon will be able to return to the fulfillment of his official obligations in full, as well as fully engage in the election race. The oil market reacted positively to such statements: black gold immediately began to grow in price, winning back all the losses.

Nevertheless, all forecasts regarding the movement of the oil price remain in the negative zone. This is primarily due to the deteriorating epidemiological situation in the world. The second wave of the pandemic will inevitably be followed by restrictive measures, which will be extremely difficult for the world economy to cope with since it has not yet fully recovered from the effects of the first wave. In addition, the demand for oil raw materials risks being under even greater pressure than it is now. At the same time, OPEC is taking steps to contain the excessive level of supply in the market. Traditionally, this is due to compliance with production quotas, the implementation of which is now under threat, since some countries have again begun to exceed the required volumes.

The greatest concern of investors this week, of course, is still on the growing cases of the coronavirus infection around the globe. Also, the adoption of a new stimulus package designed to support the US economy, which suffered during the first wave of the COVID-19 pandemic, remains a matter of concern.

The price of futures contracts for Brent crude oil for delivery in December on the trading floor in London rose immediately by 2.06% or $0.81, which allowed it to move to the level of $40.08 per barrel. And this is above the strategically and psychologically important mark of $40 per barrel. There were hopes that the raw materials will be able to recoup all their losses from the previous week. Friday's trading session ended with a decline of 4.1% or $1.66, which forced raw materials to move to the lowest level in almost four months at $39.27 per barrel.

The price of futures contracts for WTI crude oil for delivery in November on the electronic trading platform in New York rose 2.38% or $0.88, which sent it to $37.93 per barrel. Friday's trading also recorded a decline of 4.3% or $ 1.67, leaving the final price at $ 37.05 per barrel which was the lowest since the beginning of September this year.

Maria Shablon,
Analytical expert of InstaForex
© 2007-2025
选择时间框架
5
分钟
15
分钟
30
分钟
1
小时
4
小时
1
1
通过InstaForex赚取加密货币汇率变动的收益。
下载MetaTrader 4并开启您的第一笔交易。
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST

推荐文章

100億美元:錯誤的代價。強生再次成為焦點

資產負債表的指標處於動盪狀態。航空類股下跌。

14:26 2025-04-02 UTC+2

4月2日美國市場新聞摘要

在唐納·川普發表關於關稅的演講前,市場參與者需要消化一系列的經濟數據。投資者密切關注他的宣布,就像等待一場重要的首映。

Natalia Andreeva 12:44 2025-04-02 UTC+2

100億美元:錯誤的代價?J&J再次陷入法律風暴

儘管投資者因唐納德·特朗普宣布新貿易關稅前的緊張情緒而緊繃,美國股市週二在關鍵的 S&P 500 和納斯達克綜合指數收盤上升。 最近幾週,金融市場經歷高度波動。

Thomas Frank 08:02 2025-04-02 UTC+2

2025年第一季度:市場見證自2022年以來最大幅度的利率下降

美國股市在2025年第一季度以下跌結束。標普500指數和納斯達克綜合指數錄得自2022年以來最弱的季度表現,受到環繞唐納德·特朗普新經濟策略的不確定性影響。

Thomas Frank 12:03 2025-04-01 UTC+2

4月1日美國市場新聞摘要

美國股市指數在當日交易中出現混合結果:S&P 500 上漲了0.55%,而納斯達克100則下降了0.14%。這種不確定性來自特朗普政府可能引入的新關稅。

Ekaterina Kiseleva 11:37 2025-04-01 UTC+2

黃金在危機中閃耀:全球動盪中錄得自1986年以來最佳季度表現

週一,由於美國總統川普的強烈言辭,全球市場陷入混亂,他暗示計劃將關稅措施擴展至幾乎所有國家。其言論加深了投資者對不斷升級的全球貿易衝突的焦慮,這可能會將世界經濟拖入衰退。

12:51 2025-03-31 UTC+2

3月31日美國市場新聞摘要

美國市場在本週開始時出現大規模拋售,原因是報復性貿易關稅的討論不斷升溫以及消費者信心惡化。投資者大量拋售股票,擔心白宮可能實施新的進口關稅。

Irina Maksimova 12:16 2025-03-31 UTC+2

黃金:新的危機之王?全球動盪中創下自1986年以來的最佳季度

在週一,美國總統唐納德·特朗普直言不諱地表示他計劃將關稅擴展到幾乎每個國家,這加劇了投資者對日益增長的全球貿易衝突威脅的擔憂,可能將世界經濟推入衰退,導致全球股市陷入混亂。 在總統專機空軍一號上與記者交談時,特朗普明確表示:不會有例外。

Thomas Frank 09:35 2025-03-31 UTC+2

特朗普施壓——股市應聲下跌

全球金融市場連續第二天受到衝擊,而金價則飆升至歷史新高。這可歸因於白宮推動的貿易對抗升級,令人措手不及。

11:46 2025-03-28 UTC+2

3月28日美國市場新聞摘要

白宮對汽車及零部件徵收25%的關稅,導致汽車製造業出現拋售潮,主要股指普遍下跌。道瓊斯指數、標普500指數和納斯達克指數均收跌。

Irina Maksimova 11:24 2025-03-28 UTC+2
现在无法通话?
提出您的问题,用 在线帮助.
Widget callback
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.