Oil prices collapsed after WSJ reports that the United Arab Emirates was to ask OPEC authorities to give the green light to increase oil production. That could mean more supply in the market and possible action from other large and flexible OPEC producers like Saudi Arabia and Iraq.
Additionally UAE are debating internally whether to leave OPEC, according to WSJ citing Sources, however
The downward movement was quite significant and oil fell nearly to $82 per barrel. To a large extent, these moves have been erased, but oil still trades nearly 1% lower on a daily basis. Currently, prices are trading around $84.00.
Source: xStation5
EIA Natural gas inventories change higher than expected
Oil extends losses as easing Middle East tensions push prices toward $70
Wheat gains as USDA points to the smallest harvested area since 1877 🔼
🟡Gold Regains Luster Thanks to Weak NFP
This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
