CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Daily summary: Oil erases yesterday declines with 4% rally as week ends

20:12 17 November 2023
  • Oil rebounds from yesterday's declines and climbs more than 4% for Brent and WTI. Funds point to covering short positions and profit-taking pressure after prices fell to 4-month lows. In addition, some support for the bulls comes from news of U.S. sanctions on more Russian suppliers.
  • The U.S. has imposed sanctions on maritime companies and ships for transporting Russian oil sold above the G7 price ceiling, potentially restricting oil supply. This fact impacted positively oil prices but US stock market remains strong
  • Wall Street stock indexes are defending against a potential correction. The US30 is trading down 0.05% today, but the US500 and US100 are gaining about 0.1%
  • Palantir soars to new one-year highs after Wedbush Securities analysts rated the artificial intelligence company's stock as a potential big beneficiary of their expectation of a continued tech stock market rally in 2024
  • Higher-than-forecast revenue and earnings per share are supporting GAP shares, with the company trading up more than 28% today and among the strongest risers in the US stock market today
  • The European stock market closed the session in positive sentiment. The CAC40, FTSE and DAX gained around 1%, and the WIG20 closed the session 0.5% higher, although Allegro shares deepened yesterday's sell-off by losing more than 1%
  • UK retail sales came in below forecasts, falling 2.7% y/y versus -1.5% expectations and -1% previously. On a monthly basis, it fell 0.3% against an expected m/m increase of 0.3%. The core index fell 0.1% at a time when the market expected a 0.4% increase. The weaker data has increased pressured British pound sterling and indicates that the BoE will probably not raise interest rates anymore. GBPUSD gains near 0.3% today
  • Volvo Car AB shares were one of the weakest on the European stock exchange session on Friday, with more than 11% loss following the decision of Zhejiang Geely Holding Group to sell approximately 100 million shares of the company
  • Statements by Fed members indicate that US interest rates have probably already peaked (Fed Barr) but could still be raised in response to stronger data (Fed Daly). Daly also stressed that there is no certainty of a further sustained decline in inflation to 2%
  • US dollar futures (USDIDX) are losing 0.46%. At the same time, EURUSD gains nearly 0.5% and climbs to new local maximums
  • Precious metals are flat today with gold prices at $1980 level despite weakening US dollar
  • Cryptocurrencies are trading in mixed sentiment at the end of the week, but Bitcoin managed to stem the downward wave and the price is currently at the level of $36,400

OIL is approaching price levels from before yesterday's huge sell-off, and now at 80 USD per barrel, strong supply could potentially restart. On the other hand, a further breakout above $81 could create a slightly more bullish technical picture for OIL. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

Xtb logo

Join over 1 Million investors from around the world

We use cookies

By clicking “Accept All”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

This group contains cookies that are necessary for our websites to work. They take part in functionalities like language preferences, traffic distribution or keeping user session. They cannot be disabled.

Cookie name
userBranchSymbol cc 2 March 2024
adobe_unique_id cc 1 March 2025
test_cookie cc 1 March 2024
SESSID cc 9 September 2022
__hssc cc 1 March 2024
__cf_bm cc 1 March 2024
intercom-id-iojaybix cc 26 November 2024
intercom-session-iojaybix cc 8 March 2024

We use tools that let us analyze the usage of our page. Such data lets us improve the user experience of our web service.

Cookie name
_gid cc 9 September 2022
_gat_UA-22576382-1 cc 8 September 2022
_gat_UA-121192761-1 cc 8 September 2022
_ga_CBPL72L2EC cc 1 March 2026
_ga cc 1 March 2026
AnalyticsSyncHistory cc 8 October 2022
af_id cc 31 March 2025
afUserId cc 1 March 2026
af_id cc 1 March 2026
AF_SYNC cc 8 March 2024
__hstc cc 28 August 2024

This group of cookies is used to show you ads of topics that you are interested in. It also lets us monitor our marketing activities, it helps to measure the performance of our ads.

Cookie name
MUID cc 26 March 2025
_omappvp cc 11 February 2035
_omappvs cc 1 March 2024
_uetsid cc 2 March 2024
_uetvid cc 26 March 2025
_fbp cc 30 May 2024
fr cc 7 December 2022
muc_ads cc 7 September 2024
_ttp cc 26 March 2025
_tt_enable_cookie cc 26 March 2025
_ttp cc 26 March 2025
hubspotutk cc 28 August 2024

Cookies from this group store your preferences you gave while using the site, so that they will already be here when you visit the page after some time.

Cookie name
personalization_id cc 7 September 2024
UserMatchHistory cc 8 October 2022
bcookie cc 8 September 2023
lidc cc 9 September 2022
bscookie cc 8 September 2023
li_gc cc 7 March 2023

This page uses cookies. Cookies are files stored in your browser and are used by most websites to help personalise your web experience. For more information see our Privacy Policy You can manage cookies by clicking "Settings". If you agree to our use of cookies, click "Accept all".

Change region and language
Country of residence