Oil News

Crude Oil is trading at $71.50 as of 8:23am, London Time. Crude’s Pool-Position is 72% Long, meaning that most Finotec clients are buying the commodity.

Oil steadies below $72 as traders await the inventories

Crude Oil is trading at $71.50 as of 8:23am, London Time. Crude’s Pool-Position is 72% Long, meaning that most Finotec clients are buying the commodity.

Oil steadied at below $72 a barrel on Wednesday, after rising more than 2 percent in the previous session, as a bearish industry report showing a surprise build in U.S. crude oil stockpiles was offset by further weakness in the dollar. The API report, seen as a precursor to more authoritative data from the U.S. Energy Information Administration due later on Wednesday, showed crude stocks rose 276,000 barrels in the week to Sept. 18, against a Reuters poll forecast for a drawdown of 1.5 million barrels. Crude Oil is trading at $71.50 as of 8:23am, London Time. Crude’s Pool-Position is 72% 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