Oil drops amid weak projections and strong Greenback

Source: Reuters
Crude futures extend losses on Monday, as a global supply glut, the stronger US Dollar weighed on a poor outlook for the commodity. Futures for WTI fell 1.43% to $45.39, while contracts for Brent crude dropped 1.30% to $48.97 by 10:53 AM GMT. The trading volume may be thin on Monday due to the celebration of the Labour Day holiday in the US. Meanwhile, many experts slashed their projections for oil for this and next year.  

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.