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Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

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Oil ended the week with a decline, fearing weak demand from China


November, 15 2024

Oil ended the week with losses, despite a short-term recovery at the beginning of the week. Brent fell to $71.80 per barrel today, and WTI – to $67.54. Over the week, Brent lost 3%, and WTI – almost 4%.Chinese refineries reduced oil refining by 4.6% in October compared to last year. The reasons are the closure of factories and a decrease in operating performance at small independent refineries.Investors are increasingly worried about the state of the Chinese economy, which is the largest consume... Read More

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