Global macro overview for 25/08/2015:
The global growth concerns and oversupplied market conditions have made crude oil futures close at the level of $38.24 a barrel that is the lowest mark since 2008. There are two more news events that might push crude oil prices even lower in a couple of days: today’s API Crude Oil Inventories for the month of August scheduled for release at 8:30pm and expected to decline to the level of -2300k. Moreover, tomorrow’s Crude Oil Inventories news from the US that are scheduled for release at 2:30pm are expected at the level of +2620k .
The material has been provided by InstaForex Company – www.instaforex.com