Oil skids to biggest weekly loss in two years amid market turmoil

Oil prices slid more than 3 percent on Friday as U.S. futures fell below $60 a barrel for the first time since December on renewed concerns about rising crude supplies.  U.S. and Brent crude futures have slid more than 11 percent from this year’s peak in late January. Brent fell nearly 9 percent for the week while U.S. crude dropped 10 percent, the steepest weekly declines since January 2016. Futures posted a sixth straight day of losses, wiping away the year’s gains in a string of high-volume trading sessions, pressured by stronger-than-expected supply figures and a surprising ramp-up of the North Sea Forties Pipeline, which shut earlier in the week. Turmoil on Wall Street also pressured crude. During the trading session, the S&P 500 stock index .SPX fell to its lowest level since Oct. 5. [.N] The S&P recovered to end the day higher, which helped oil bounce off session lows. U.S. West Texas Intermediate (WTI) crude CLc1 settled down $1.95, or 3.2 percent, to $59.20, the lowest settlement since Dec. 22. The session low for U.S. crude was $58.07. More than 845,000 contracts changed hands in another above-average day for trading volumes. READ MORE @ https://www.reuters.com/article/us-global-oil/oil-skids-to-biggest-weekly-loss-in-two-years-amid-market-turmoil-idUSKBN1FT03T

Consumers Expected To Spend $4.7 Billion On Jewelry For Valentines

Valentine’s Day is quickly approaching and if you are struggling for the perfect gift, you can’t go wrong with jewelry as that appears to be the hot item this year. According to the National Retail Federation, U.S. consumers are expected to spending a near-record $19.6 billion on Valentine’s Day gifts, up from $18.6 billion spent last year. On average consumers are planning to spend $143.56 on gifts as more than half the population (55%) celebrate what some have dubbed a “Hallmark Holiday.” So where are consumers spending their money? Positive for the precious metals market, the jewelry sector will see the most significant chunk of holiday cash at $4.7 billion. In second place consumers are expected to spend $3.7 billion on a romantic evening out, $2 billion will be spent on flowers, consumers will buy $1.8 billion on candy and $1.9 billion on clothing. Read More @ http://www.kitco.com/news/2018-02-09/Consumers-Expected-To-Spend-4-7-Billion-On-Jewelry-For-Valentines.html

What are Technical Chart saying?

High Risk Investment Warning:

Please note that Forex and other leveraged trading involves significant risk of loss, It is not suitable for all traders and you should make sure you understand the risks involved, it is recommended that you seek an independent advice, if necessary

2 Comments
  1. storno brzinol 1 month ago

    I have recently started a website, the information you offer on this site has helped me greatly. Thanks for all of your time & work.

  2. You could definitely see your enthusiasm in the work you write. The sector hopes for even more passionate writers like you who are not afraid to mention how they believe. Always go after your heart. “History is the version of past events that people have decided to agree upon.” by Napoleon.

Leave a reply

Your email address will not be published. Required fields are marked *

*

CONTACT US

We're not around right now. But you can send us an email and we'll get back to you, asap.

Sending

FINWAZE makes no representations or warranties, express or implied, in relation to this website (www.finwaze.com) or the information and materials provided on this website. It does not also warrants that this website will be constantly available or available at all times. The information on this website is complete, true, accurate or non-misleading. Nothing on this website constitutes, or is meant to constitute, advice of any kind. FINWAZE shall not be liable for any damage or injury, whether direct or indirect, that it may cause in relation to the contents of, or use of, or otherwise in connection with this website. By using this website, you agree to the reasonableness of the limitations of liabilities herein set out and further agree to assume whatever risk, loss, damage or injury in may cause in connection to the use of this website. No claims shall be brought personally against the officers and employees of FINWAZE, in connection with the use of this website. The user of this website agree to the limitations of warranties and liabilities herein set out to protect the officers, employees, agents, subsidiaries, successors, assigns and sub-contractors as well as FINWAZE. Any unenforceable provisions that may be found on this website under applicable law shall not affect the enforceability of the other provisions.

Legal Documents  |  ©2021 Finwaze Philippines

Pin It on Pinterest

Share This

Log in with your credentials

Forgot your details?