empty
 
 

2018.07.0508:41:00UTC+00Oil In Rally Mode As Trump Hammers OPEC

Crude oil futures rose Thursday morning as U.S. top man Donald Trump continued his twitter tirade against the OPEC oil cartel.

Trump is accusing OPEC of artificially inflating oil prices to the detriment of the average Joe in the U.S.

Trump: "The OPEC Monopoly must remember that gas prices are up & they are doing little to help. If anything, they are driving prices higher as the United States defends many of their members for very little $'s. This must be a two way street. REDUCE PRICING NOW!"

WTI light sweet oil was up 30 cents at $74.40 a barrel, near its recent 4-year highs.

The American Petroleum Institute reported Tuesday that U.S. crude supplies fell by 4.5 million barrels for the week ended June 29.

In economic news, The private sector generated 177,000 jobs in June, according to payroll processor ADP.

U.S. jobless claims climbed 3,000 to 231,000 at end of June, but remained near historically low levels.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $9000 more!
    In May we raffle $9000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback