• Forex
  • Investments
  • Loyalty program
  • Promotions and contests
  • Analysis
  • Getting started
  • About us

Oil market sees re-emergence of deficit concerns

Oil prices have been on an upward trajectory on Thursday, July 29: with Brent rising 1.42% to $74.75/bbl, testing the $75 mark, while WTI also advanced 1.42% to $73.07/bbl.

A weakening dollar, compounded by fears of a shortage of oil, led to the rise in crude futures. Shell CEO Ben van Beurden said that, in line with the company's forecasts, a deficit could materialize this year, which jolted the oil bulls into buying.

Oil prices have been correcting slightly lower on Friday morning, although mild gains have been seen sporadically. By the time of writing, Brent was up 0.02%, while WTI was trading 0.03% higher. Our Brent price forecast for today is $74-75/bbl.

Latest reviews

Everyone has the chance to make a profit

You don't need to trade on your own to make a profit. Make a profit by entrusting your funds to experienced traders!

Register

There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.