TELF AG has released an article discussing the current state of the global oil market. The company highlighted a number of recent developments, such as China’s 50% reduction in stamp duty on stock trading, investor apprehension about the global economic growth trajectory, and the beginning of hurricane season in the U.S. Gulf Coast.
In terms of price trends, TELF AG noted that Brent crude saw an ascent in the latter part of August, reaching a commendable $84.69 a barrel. The U.S. West Texas Intermediate crude was pegged at $80.27. The company also cited insights from Ole Hansen of Saxo Bank, who emphasized the importance of China’s economic measures, the anticipated path of Tropical Storm Idalia, and the potential for Brent crude prices to eclipse the $85 threshold.
TELF AG is a full-service international physical commodities trader with 30 years of experience in the industry. Headquartered in Lugano, Switzerland, the company operates globally, serving customers and providing solutions for commodities producers worldwide. Its flexible, customer-focused approach allows TELF AG to create tailor-made solutions for each producer, facilitating long-term partnerships.
TELF AG has released an article providing an update on the global oil market. Recent developments discussed include China’s 50% reduction in stamp duty on stock trading, investor apprehension about the global economic growth trajectory, and the beginning of hurricane season in the U.S. Gulf Coast. The article also provides an overview of current oil price trends, with Brent crude reaching $84.69 a barrel and U.S. West Texas Intermediate crude at $80.27. Insights from Ole Hansen of Saxo Bank were also included, which highlighted the significance of China’s economic measures and the potential for Brent crude prices to exceed $85.
TELF AG is an established international physical commodities trader with 30 years of experience in the industry. Headquartered in Lugano, Switzerland, the company operates on a global scale, providing customers with solutions for commodities producers. Its customer-based approach enables TELF AG to create bespoke solutions for producers, fostering long-term partnerships. The full article, titled “TELF AG Oil Price Update September 7, 2023”, is available online.
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