Empire State index drops to a 3-month low

Source: WBP Online
New York's Federal Reserve published its business conditions index of New York state for May and it plunged to negative 9 points from positive 9.56 points in April. This was an unexpected turn of events, as analysts predicted it to be 6.5 points. Not only May's results erased increases of March and April, but also it is the biggest fall since October 2014.
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Mon, 16 May 2016 15:09:05 GMT

WTI and Brent add 2.5% by 13:20 GMT

Crude oil futures traded higher on Monday, triggered by possible production cuts in Venezuela and Nigeria. Thus, both West Texas Intermediate and Brent futures jumped 2.5%, trading at $47.37 and $49.01 per barrel respectively by 13:20 GMT on the London Stock Exchange. 

Mon, 16 May 2016 14:44:10 GMT

Goldman Sachs states that the oil glut is over

Goldman issued a statement announcing that crude oil market went from nearing storage limits to a deficit situation much earlier than they expected and low oil prices are over. Main reasons for it were supply distruptions of around 3.75 million barrels per day. WTI traded up 2.3% at $47.30 and Brent was up 2.4% at $49.00 by 13:00 GMT.

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