Oil News

Crude Oil falls after investor eye world demand

Crude Oil falls after investor eye world demand

Crude’s Pool-position is 87% Long, meaning that most Finotec clients are buying the commodity.

Oil prices fell toward $69 a barrel on Wednesday after U.S. data showed fuel stocks surged last week in the world’s biggest energy consumer, signaling a recovery in oil demand could take more time. The Energy Information Administration reported gasoline stocks leapt 2.9 million barrels last week, nearly three times the build that analysts had expected. U.S. fuel stocks remain far above five year averages, with gasoline 7 percent above average levels and distillates 30 percent above the norm, government data show. Crude’s Pool-position is 87% 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