Oil bounces back up from hitting lowest in 5 years
December 19, 2014 2:56 am
West Texas Intermediate has climbed back up after falling to its lowest in five years with oil prices trading at volatility levels unseen since 2011.
Futures of the American crude oil benchmark with a delivery date in January increased by as much 2.6%, or $1.39, for a per barrel of $55.50. It was trading late morning Sydney time at $54.88 on the New York Mercantile Exchange. It hit its lowest since May 2009 yesterday when it lost $2.36 to $54.11. Trading volume was 22% less than the 100 day average. WTI has dropped by 44% so far this year.
Implied volatility for front month contracts of WTI advanced to 54.6 earlier today, based on data from Bloomberg.
Brent, the European benchmark, with a delivery date in February fell by 3.1%, or $1.91 for a price per barrel of $59.27 a day after closing at its lowest value since May 2009. It traded with a premium over WTI of $4.91 in London’s ICE Futures Europe exchange.
The material has been provided by InstaForex Company – www.instaforex.com
West Texas Intermediate has climbed back up after falling to its lowest in five years with oil prices trading at volatility levels unseen since 2011.
Futures of the American crude oil benchmark with a delivery date in January increased by as much 2.6%, or $1.39, for a per barrel of $55.50. It was trading late morning Sydney time at $54.88 on the New York Mercantile Exchange. It hit its lowest since May 2009 yesterday when it lost $2.36 to $54.11. Trading volume was 22% less than the 100 day average. WTI has dropped by 44% so far this year.
Implied volatility for front month contracts of WTI advanced to 54.6 earlier today, based on data from Bloomberg.
Brent, the European benchmark, with a delivery date in February fell by 3.1%, or $1.91 for a price per barrel of $59.27 a day after closing at its lowest value since May 2009. It traded with a premium over WTI of $4.91 in London’s ICE Futures Europe exchange.
The material has been provided by InstaForex Company – www.instaforex.com
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