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?

Start trading Discover Elev8 story
Trading news
31 Mar 2020

OPEC oil output rises by 90,000 bpd in March to 27.93 million bpd – Reuters

The crude oil output of the OPEC increased by 90,000 barrels per day (bpd) in March to 27.93 million bpd boosted by ramped up production in Saudi Arabia and the United Arab Emirates, a Reuters survey showed on Tuesday.

"This may be the calm before the storm as many OPEC countries have announced a maximisation of their supply and exports in April," Petro-Logistics, a firm that tracks oil shipments, CEO Daniel Gerber told Reuters. "Early signs show export rates from Saudi Arabia, UAE and Kuwait starting to ramp up."

Market reaction

The barrel of West Texas Intermediate (WTI) continued to erase its losses on this headline and was last seen trading at $20.60, still adding 1.75% on the day.

Mar 31, 2020

US Dollar Index Price Analysis: DXY bounces and approaches 100.00 handle

Last week, the greenback had its largest weekly decline since April 1986 as DXY challenged the 50-day simple moving average on the daily chart.
Read more Previous
Mar 31, 2020

WTI retraces majority of daily rebound, trades around $20.50 ahead of API data

The barrel of West Texas Intermediate (WTI) dropped to its lowest level in more than 18 years on Monday at $19.25 before staging a rebound on Tuesday.
Read more Next