The oil market had a very volatile week as did most other commodities: the news of the EU summit agreement on debt resolution shock the financial markets and the report of the U.S. GDP growth rate may have also contributed to the sharp gains in the WTI.
By the end of the week, Brent slightly declined by 0.75% while WTI sharply inclined by 2.41%; as a result, the spread between Brent and WTI sharply decreased to $17.51/b on Friday.
Disclaimer: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts. Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. Forex Capital Markets LLC. will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.