Yesterday's trading in the oil market was high volatility. Market participants are trying to find a balance between positive and negative factors. The result is in favor of pessimism.
Although the fall of the USD against the EUR support, increased production and the threat of Iran are strong. According to the Iranian minister Bijan Namdar Zanganeh to 10 days after the embargo Iran will sharply increase production and within a year will be the second OPEC manufacturer.
Pierre Andurand, whose hedge fund gained 38 percent in 2014 from a well-timed wager that oil prices would fall, expects a further slide. “We’ll be in a market where both U.S. production will go up and OPEC,” Andurand – CIO, founder and Managing Partner of"Andurand Capital Management" said in a Bloomberg Television interview. - “It’s going to be difficult for prices to go much higher in the short term.”
Bloomberg
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.