Oil Price In Forex
Bank of America Merrill Lynch (BAML) analysts believe that oil prices are likely to extend their bullish momentum into the next year while expecting the commodity to hit $ 100/ barrel on geopolitical developments. Key Highlights via CNBC: Oil prices look set to temporarily hit $90 a barrel during the first half of next year, if not sooner, and risk spiking to as much as $100 a barrel, depending on geopolitical events and other factors, say Bank of America Merrill Lynch analysts. Free live binary options trading signals. But they do not see an immediate major jump in prices.
Crude oil prices are drifting lower on Tuesday, with traders speculating a possible drop in demand for oil due to uncertainty about the outlook for global economic growth.
For this year, they forecast an average price of $70 a barrel for Brent crude, the international benchmark. They forecast $75 for next year. Their previous forecast was $60. The analysts have a target of $90 a barrel during the second quarter of 2019, with a risk it could go to $100 a barrel.
“Looking into the next 18 months, we expect global oil supply and demand balances to tighten driven by the ongoing collapse in Venezuelan output. In addition, there are downside risks to Iranian crude oil exports.
Plus we see a high likelihood of OPEC working with Russia in 2019 to set a floor on oil prices.”. Foreign exchange (Forex) trading carries a high level of risk and may not be suitable for all investors. The risk grows as the leverage is higher. Investment objectives, risk appetite and the trader's level of experience should be carefully weighed before entering the Forex market. There is always a possibility of losing some or all of your initial investment / deposit, so you should not invest money which you cannot afford to lose. The high risk that is involved with currency trading must be known to you. Please ask for advice from an independent financial advisor before entering this market.
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Crude oil prices are drifting lower on Tuesday, with traders speculating a possible drop in demand for oil due to uncertainty about the outlook for global economic growth. Also, with U.S. Crude inventories having risen for four straight weeks, traders stay wary of making significant purchases ahead of release of inventory data. While the American Petroleum Institute is scheduled to come out with its weekly oil report later in the day, the official inventory data from the U.S. Energy Information Administration is due tomorrow morning. Crude oil futures for December are down $0. 
97, or 1.40%, at $68.20 a barrel.