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Oil Wipeout: Why Prices Aren’t as Cheap as They Look (News: 21/01/16)

Today's Press

  • The rout in oil prices won’t be reversed by OPEC, frackers, China or even the Fed. Only supply and demand can swing it. But the problem with calculations about their impact on energy prices is that, well, they’re a little crude.

  • British finance minister George Osborne said on Thursday he will nominate Christine Lagarde for a second term as managing director of the International Monetary Fund, as support for her candidacy also emerged from other European countries.

  • European stocks tumbled late in Wednesday's session to close sharply lower as a sharp drop in oil prices added pressure to equities in all sectors, with banking, commodity and insurance stocks suffering the most.

Next Trading Day's Important Events

Forex Quotes:

  • USDJPY: 116.98
  • EURUSD: 1.0899

Indices:

  • S&P 500: 1,859.33
  • NASDAQ : 4,471.7

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