Oil News

A rising death toll from a flu outbreak has also fanned fears of a pandemic potentially hurting the world economy

Crude Oil drags below $50 a barrel as equities fall

A rising death toll from a flu outbreak has also fanned fears of a pandemic potentially hurting the world economy

Oil prices fell below $49 on Tuesday, extending Monday’s losses as declines on global stock markets heightened expectations of a further drop in demand for oil products. A rising death toll from a flu outbreak has also fanned fears of a pandemic potentially hurting the world economy. Oil major BP reported a 62 percent fall in first-quarter net profit on Tuesday due to a collapse in oil and gas prices, but heavy cost cutting helped it beat analysts’ expectations. Crude Oil is trading at $48.80 as of 9:30am, London Time. Crude’s Pool-Position is 69% Long, meaning that most Finotec traders are buying the commodity.

Derivative and forex trading broker Finotec is a division of leading real-time Internet trading company Finotec Trading Inc, which pioneered the world of online forex trading in 1998. After launching our revolutionary forex online trading platform in 2001, we continued to improve our services and now serve clients of all sizes in many locations worldwide, offering them real-time Internet trading not only in currencies, but also in options, commodities,... More