Crude oil prices were under pressure as weak economic data weighed on sentiment, per ANZ Bank. Key quotes “Signs of deep US recession emerged with retail sales and factory output down sharply. However, the outlook looks grim with the New York Fed’s manufacturing index falling to -78.2.” “Sentiment was helped after the IEA said that global oil demand will probably fall 9% in 2020 and that storage tanks will probably fill by mid-year.” “WTI prices regained some of the losses after news emerged of a US plan to pay producers to leave oil in the ground. The Energy Department has drafted plans to compensate companies for sitting on as much as 365mbbl of oil reserves.” “It’s clear to the market that the recent OPEC+ supply agreement will only limit the worst of the damage that restrictions on people’s movement is having on demand.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next NZ CPI Preview: Release to show a 0.4% rise – Westpac FX Street 2 years Crude oil prices were under pressure as weak economic data weighed on sentiment, per ANZ Bank. Key quotes “Signs of deep US recession emerged with retail sales and factory output down sharply. However, the outlook looks grim with the New York Fed’s manufacturing index falling to -78.2.” “Sentiment was helped after the IEA said that global oil demand will probably fall 9% in 2020 and that storage tanks will probably fill by mid-year.” “WTI prices regained some of the losses after news emerged of a US plan to pay producers to leave oil in the ground. The Energy Department has… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
