Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities


Oil Extends Massive Gains

April 10, 2015 at 1:17 by Vladimir Vyun

Crude oil demonstrated massive gains yesterday and continues to rise today. On Thursday, the Brent grade climbed as much as 4 percent intraday. The day before, prices for oil tumbled 6 percent as the Energy Information Administration released a bearish supply report.

The rally followed the statement from Iran that the country will sign the nuclear deal only if the sanctions imposed over the disputed nuclear program would be lifted the same time. Expanding industrial production in Germany also helped the commodity as it means higher demand for fuel.

May futures for delivery of WTI crude oil went up 0.06 percent to $50.82 per barrel as of 1:11 GMT on NYMEX today. Contract for Brent crude added 0.32 percent to its value and traded at $56.75 per barrel on ICE.

If you have any questions and comments on the commodities today, use the form below to reply.

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