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European markets close in the green territory

Most of the European markets ended Tuesday’s session in the positive zone, adding gains from the previous session. Gains recorded after geopolitical concerns eased and reports indicating that the damage caused by Hurricane Irma was less than what had been anticipated.

The pan-European Stoxx, Europe 600 index ended the session with an increase of 0.55 percent. The Euro 50 index of bluechip stocks went also higher by 0.50 percent.

U.K. inflation data for the month of august turned out much higher than expected, in fact, reaching highest level in over five years. A major increase was recorded in the clothing and energy sectors.

Oil prices climbed due to a decline in production in August

Crude oil prices rose as OPEC reported that there was a decline in production for the month of August. WTI went higher by 0.4% and was sold at $48.26. Brent prices climbed 0.72% closing at $54.23 per barrel.

The rise in prices took place even though the API reported an increase of 6.181 million barrels in the United States’ crude oil inventories.

U.S. gasoline inventories fell more steeply than what was expected. The inventories were down by 7.896 million barrels for the week. Analysts expected inventories would deplete by no more than 4.0 million barrels.

* The details mentioned above have been partially adopted from third party sources, including websites, and are displayed “AS-IS” Readers should take into account that all the data that appear in this review can change based on the dynamic of global markets. The information provided by the review ought not to be considered as advice or financial guidance nor can it relate to any investor’s personal requirements or investment goals. In addition, the data should not be conceived as any kind of recommendation to trade and / or carry out a transaction and / or deposit funds.