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Oil Extends Drop From 12-Year Low as U.S. Supplies Seen Rising (News: 20.01.16)

Today's Press

  • The sell-off that has engulfed global stock markets early in 2016 intensified Wednesday, with oil breaking below $28 a barrel for the first time since 2003, the Dow plunging almost 300 points at the open, Japanese stocks skidding into bear market territory and European shares shedding 3%.

  • US banks reported this month stronger-than-expected revenues and much better profits for the fourth quarter of 2015, showing that pro-longed cost-cutting efforts have left them resilient earners.

  • Oil extended its decline from the lowest close in more than 12 years before weekly U.S. government data forecast to show crude stockpiles expanded, exacerbating a global glut.

Next Trading Day's Important Events

Forex Quotes:

  • USDJPY: 116.54
  • EURUSD: 1.0909

Indices:

  • S&P 500: 1,844.40
  • NASDAQ : 4,382.8

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