Trading news

Oil Prices Went Up

There was no common trend on the world’s trading floors on Tuesday. European indices closed with a drop – the FTSE 100 fell 0.6 percent down to 6,811.61 points, the DAX shed 1.57 percent down to 10,628.58 points, and the CAC 40 declined by 1.09 percent making 4,624.21 points.

There was an upbeat mood on the Russian market despite the fact that S&P had downgraded Russia’s credit rating. As such, the MICEX index grew 1.92 percent up to 1,673.92 points, and the RTS index added 0.28 percent reaching 783.53 points.

US indices went down due to weak corporate reports and mixed macroeconomic data. The Dow Jones Industrial Average fell 1.65 percent closing at 17,387.21 points, the S&P 500 BMI fell 1.34 percent down to 2,029.55 points, and the NASDAQ dropped 1.89 percent down to 4,681.50 points.

On the NYMEX, the cost of WTI oil futures for March rose by $1.08 and made $46.23 a barrel. On London’s ICE, the price of the Brent oil future for March delivery went up by $1.44 and reached $49.60 a barrel. The oil market got a boost after OPEC Secretary-General Abdullah al-Badri said that the price of oil could possibly hike up to $200 a barrel provided there are no investments in oil production for quite a while.

On the Forex market, EUR/USD carries on with its upward correction.

Anna Gorenkova
NordFX Analyst

Wednesday, 28 Jan, 2015 / 1:45

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