From now on we Elev8
We're more than just a broker. We're an all-in-one trading ecosystem—everything you need to analyse, trade, and grow is in one place. Ready to elevate your trading?
Trading news
12 Mar 2020
Oil: Direct and immediate hit to demand – TDS
Crude remains under extreme pressure as mounting travel restrictions deliver a direct and immediate hit to demand, economists at TD Securities inform. WTI is being exchanged at $31.184.
Key quotes
“The latest reports from the EIA, IEA and OPEC have all slashed demand expectations, with demand growth expected to be flat or negative for 2020.”
“The supply-side shock in the form of a price war between OPEC and Russia has taken another bearish turn, with the UAE the latest OPEC nation to join rank with Saudi Arabia and pledge a some 1m bpd increase in production.”