News | Forex Optimum

News

News

Oil: Storm clouds loom on the horizon – TDS

FXStreet reports that in the opinion of strategists at TD Securities, crude markets appear to be stabilizing in the low-mid $20/bbl range, but further storm clouds loom on the horizon.

“While the potential for a New Global OPEC+ would be very constructive long term, the demand-side impact of Covid would nonetheless vastly outweigh a potential curtailment agreement in the short term.”

“Gasoline crack spreads have fallen into negative territory, prompting many refineries to cut refining run rates, which could quickly see inventory levels of crude begin to surge, bringing another wave of selling into this fragile market.”

You may also be interested:

05:30 02.06.2020
Commodities. Daily history for Monday, June 1, 2020
Raw materials Closed Change, % Brent 38.48 3.64
03:30 02.06.2020
Stocks. Daily history for Monday, June 1, 2020
Index Change, points Closed Change, % NIKKEI 225 184.5 22062.39
03:30 02.06.2020
Schedule for today, Tuesday, June 2, 2020
Time Country Event Period Previous value Forecast 01:30 Australia Company Gross Profits QoQ
Deposit
options
Trading
platform
download
Bonuses VIP