- Analytics
- News and Tools
- Market News
- Oil prices retreated amid profit-taking
Oil prices retreated amid profit-taking
West Texas Intermediate futures for March delivery declined to $31.07 (-1.21%), while Brent crude declined to $31.61 (-0.60%) erasing some of yesterday's gains amid profit-taking.
There are talks about a possibility of a deal between oil producers in an attempt to stop price declines. However analysts say that any deal of that kind is unlikely.
The World Bank cut its crude price forecast for 2016 to $37 a barrel from $51 per barrel forecasted earlier. John Baffes, senior economist at the World Bank, said: "Low prices for oil and commodities are likely to be with us for some time. While we see some prospect for commodity prices to rise slightly over the next two years, significant downside risks remain."
© 2000-2025. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
