Crude oil fell this morning and moved slightly below the level of 48.00

12-09-2017 13:45:28
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Crude oil fell this morning and moved slightly below the level of 48.00. Yesterday, the oil market had an exciting session. First, the price of crude oil fell to the lowest levels in the past over a week. Soon afterwards, the price of oil jumped by 2.7% reaching values ​​above the level of 48.00. Investors were looking for a way to catch Goldman Sachs reports and rumors that the OPEC cartel is preparing to extend an agreement once again to reduce oil production by March 2018. In this report, Goldman Sachs said that demand for oil dropped significantly in September given the results of Harvy and Irma’s hurricanes. However, the price of crude oil was supported by talks by major oil producers. In fact, the Saudi Arabian oil minister reportedly held talks with its counterparts from Venezuela and Kazakhstan on the possibility of extending the current deal on reduced oil production until after March 2018. It is expected that investors will focus on the API report tonight published the most recent data on US oil stocks.

 

Crude Oil analysis by SGT Markets Forex Broker and CFD | September 12, 2017

 

Crude Oil indicators | September 12, 2017 | sgtmarkets.com