We recently noticed that some third-party companies and individuals impersonated the TOPONE Markets brand and illegally misappropriated our trademarks.

We Hereby Reiterate Our Statement:

  • TOPONE Markets does not provide discretionary account operation trading services, nor does it cooperate with other third-party vendors and/ or agents to provide such services.
  • TOPONE Markets staff will not promise to our customer the definite profit, please do not trust any kind of the profit promise or profit related picture, such as screenshot/ chat history, etc, all investment profit can be only viewed on our official website and application.
  • TOPONE Markets is a professional online trading platform with low spreads and zero handling fees. Be wary of any behavior that asks you for any fees directly and privately. TOPONE Markets does not charge a fee at any stage of its trading process or other fee.

If you have any questions or concerns, please feel free to reach us by clicking the "Online Customer Support" or send an email to our customer care team cs@top1markets.com. We will answer your questions and assist you promptly.

Understood
We use cookies to learn more about how you use our website and what we can improve. Continue to use our website by clicking "Accept". Details
This website does not provide services to residents of United States.
Market News Oil price: The longest upward trend in two years. Analyst: far beyond the fundamentals

Oil price: The longest upward trend in two years. Analyst: far beyond the fundamentals

Oil-producing countries cut supply, coupled with market expectations that vaccines will drive demand, oil prices rise.

LEO
2021-02-11
717

oil-port-1785693_1920.jpg


Oil prices rose, rising for the ninth consecutive day, the longest upward trend in two years.


The settlement price of Brent crude oil rose by 0.38 US dollars, or 0.6%, to US$61.47 per barrel, and hit a 13-month high of US$61.61 per barrel during the session; the US crude oil settlement price rose by US$0.32, or 0.6%, to US$58.68 per barrel. The intraday also hit a 13-month high of 58.76 US dollars per barrel.


The U.S. Energy Information Administration (EIA) said on Wednesday that U.S. crude oil inventories unexpectedly dropped by more than 6 million barrels last week, to 469 million barrels, the lowest level since March 2020, because refineries have increased their capacity utilization amid rising fuel demand. To the level before the outbreak in March last year. The Reuters survey is expected to increase by 985,000 barrels.


Brent crude oil has now risen for nine consecutive trading days, which is the longest rising trend since December 2018 to January 2019. US crude oil prices rose for the eighth consecutive day. Some analysts say that prices have far exceeded fundamental factors.


IEA: India will become the third largest energy consumer


According to a report released by the International Energy Agency (IEA) on Tuesday (9th), in the next 20 years, India will surpass the European Union and become the world's third largest energy consumer by 25% in 2030.


Under the current policy assumptions of the Indian government, by 2040, India's gross domestic product (GDP) will grow to 8.6 trillion US dollars, and energy consumption will nearly double. It is estimated that India's oil demand is expected to increase from approximately 5 million barrels per day in 2019 to 8.7 million barrels per day in 2040. As the world's second largest net oil importer after China, India currently imports 76% of its crude oil. The IEA stated that India’s dependence on overseas oil is expected to rise to 90% by 2030, and then to 92% in 2040.



Previous
Next

Bonus rebate to help investors grow in the trading world!

Need Assistance?

7×24 H

Download the APP for Free