CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79% 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.
US English

Oil prices slip downwards to October low of $77 a barrel

By Jenal Mehta

10:02, 18 November 2021

A ship is moored beside an oil rig at sunset
Oil prices have dipped to $77 a barrel – Photo: Shutter Stock

WTI Crude Oil dipped to $77 a barrel, a low previously seen at the start of October. This follows reports from Reuters that the US is considering a strategic release of oil reserves with other oil consumers, such as China, India and Japan. 

Organization of the Petroleum Exporting Countries (OPEC) Secretary General Mohammad Barkindo has warned about an impending oil surplus in the coming months, as reported by Reuters. Brent Crude oil future also continues its downward momentum, trading around $80 a barrel

European Gas prices have moved upwards to a five-week high, trading around €99 a megawatt-hour, dropping slightly during the trading day. This comes after Gazprom booked no extra gas flows to Europe for the upcoming month, as reported by Reuters, and Germany suspended certification of a key gas pipeline. The region continues to have colder weather, increasing demand for supplies.

Related topics

Rate this article

Capital Com is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as an investment advice. Any opinion that may be provided on this page does not constitute a recommendation by Capital Com or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risk.

Still looking for a broker you can trust?

Join the 570.000+ traders worldwide that chose to trade with

1. Create & verify your account 2. Make your first deposit 3. You’re all set. Start trading