Oil News

Crude oil is trading at $79.70 as of 21:50pm, GMT with a bearish trend. Crude’s pool-position is 29% Long, meaning that most Finotec clients are selling the precious metal.

Crude oil falls as U.S unemployment is expected to rise and demand disappears

Crude oil is trading at $79.70 as of 21:50pm, GMT with a bearish trend. Crude’s pool-position is 29% Long, meaning that most Finotec clients are selling the precious metal.

Crude oil fell on speculation that a government report tomorrow will show that the U.S. unemployment rate climbed last month, depressing demand for energy products. Oil dipped 1 percent on concern that the Labor Department will say the U.S. unemployment rate rose to a 26-year high in October. Prices climbed yesterday after the Energy Department said U.S. stockpiles of crude oil, gasoline and distillate fuel, a category that includes heating oil and diesel, fell last week. Crude oil for December delivery fell 78 cents to settle at $79.62 a barrel on the New York Mercantile Exchange. Futures have gained 79 percent this year. Crude oil is trading at $79.70 as of 21:50pm, GMT with a bearish trend. Crude’s pool-position is 29% Long, meaning that most Finotec clients are selling the precious metal.

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