Confirming you are not from the U.S. or the Philippines

By giving this statement, I explicitly declare and confirm that:
  • I am not a U.S. citizen or resident
  • I am not a resident of the Philippines
  • I do not directly or indirectly own more than 10% of shares/voting rights/interest of the U.S. residents and/or do not control U.S. citizens or residents by other means
  • I am not under the direct or indirect ownership of more than 10% of shares/voting rights/interest and/or under the control of U.S. citizen or resident exercised by other means
  • I am not affiliated with U.S. citizens or residents in terms of Section 1504(a) of FATCA
  • I am aware of my liability for making a false declaration.
For the purposes of this statement, all U.S. dependent countries and territories are equalled to the main territory of the USA. I accept full responsibility for the accuracy of this declaration and commit to personally address and resolve any claims or issues that may arise from a breach of this statement.
We are dedicated to your privacy and the security of your personal information. We only collect emails to provide special offers and important information about our products and services. By submitting your email address, you agree to receive such letters from us. If you want to unsubscribe or have any questions or concerns, write to our Customer Support.
Octa trading broker
Open trading account
Back

Oil markets go tense on Libyan concerns, WTI still under $68

  • Oil markets are feeling the pressure as Libyan output concerns are jamming up against OPEC production hikes.
  • OPEC planned production increases may be less than initially expected, but prices are still being pressured to the downside.

Oil market tensed up on Tuesday as Libyan forces exchanged oil ports with the National Oil Corporation, a company who counter-intuitively is not tied to Libya's state-run oil companies, and Libya has lost access to those oil ports. Market prices popped on the news, but OPEC's plans to increase production limits are keeping prices weighed down for now.

 OPEC will be set to lift daily oil production caps soon, though the limit lift will be for less than markets had initially feared, with Saudi Arabia pushing for a one million bpd production limit hike, though key OPEC countries like Iran are arguing for a comparably smaller increase of 600-800 thousand barrels. The move still represents a loosening of OPEC's tight controls on oil production, and prices have been hobbled by the news, which first came out of a Saudi Arabia-Russia joint statement some weeks ago.

WTI levels to watch

With crude slumping into yesterday's lows at 67.50, a further decline will see a long drop into last Friday's lows near 65.50, while a bullish recovery will have to break back over the 68 key handle before moving on to challenge the current week's high near 68.90.

AUD/USD: Corrective rally stalled near 4H 50MA on trade battles

The corrective rally in AUD/USD from 0.7345 (June 21 low) seems to have run out of steam around the downward sloping (bearish) 50-candle moving averag
Read more Previous

NZD/USD Technical Analysis: Basing patten along 100-hour MA could yield minor rally

Hourly chart Spot Rate: 0.6894 Daily High: 0.6902 Daily Low: 0.6883 Trend: Bullish Resistance 0.69 (50-hour MA) 0.6921 (100-hour MA + 10-day
Read more Next