Oil News

The U.S. government’s advance report on second quarter gross domestic product will be released at 1230 GMT. A Reuters poll gave a median forecast of a 1.5 percent contraction.

Crude Oil rises above $67 a barrel as investors see an economic pick-up

The U.S. government’s advance report on second quarter gross domestic product will be released at 1230 GMT. A Reuters poll gave a median forecast of a 1.5 percent contraction.

On Thursday, crude oil jumped more than 5 percent, to register its biggest oneday gain since early April, as U.S. data showed the number of workers staying on jobless rolls fell to the lowest in three months last week. The jobs data eclipsed figures on Wednesday that showed a large increase in U.S. crude oil inventories and slow domestic oil demand. The U.S. government’s advance report on second quarter gross domestic product will be released at 1230 GMT. A Reuters poll gave a median forecast of a 1.5 percent contraction. Crude Oil is trading at $66.60 as of 11:18am, London Time. Crude’s Pool-Position is 79% Long, meaning that most Finotec clients 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