Oil prices are at a new 18-month high as as energy traders predict significant supply cut by OPEC members.
At 12:59 GMT, WTI Crude Oil (CL) was trading at $55.00 per barrel (adding 1.93% since previous session).
Sunday, January 1st marked the official start of a deal agreed by the Organization of the Petroleum Exporting Countries and other major crude exporters such as Russia to reduce output by almost 1.8 million barrels per day.
If you think crude oil will continue to go up open a BUY position, or if you think it will go down, open a SELL position.
Start trading this and other markets now!
For General Information only. Not intended to provide Trading or Investment Advice.
Your Capital is at Risk. Losses can Exceed Deposits.
Want to start trading financial markets with ease and confidence?
Forex and CFD trading can fit a range of trading goals whether it’s increasing your profit potential or diversifying your portfolio. If you want to learn everything you need to know about trading Forex and CFDs, then visit our online trading academy. If you’re ready to start trading, simply sign up for a FREE trading account with 1000’s of virtual funds and start trading towards your financial success!