TELF AG, an international physical commodities trader with 30 years of experience in the industry, released an article titled “TELF AG Oil Price Update September 7, 2023,” which explored the current state of the global oil market.
The article highlighted the proactive decision of China to bolster its economy, with a 50% reduction in stamp duty on stock trading. However, the company noted that the investor community is still cautious due to concerns about global economic growth and speculation about how US interest rate hikes might influence demand.
The article also mentioned the beginning of the hurricane season in the US Gulf Coast, which could have a significant impact on oil and gas production.
TELF AG outlined the current oil prices, with Brent crude reaching $84.69 a barrel and US West Texas Intermediate crude standing at $80.27. The company cited insights from Ole Hansen of Saxo Bank, who expressed the potential for Brent crude prices to exceed the $85 threshold.
Headquartered in Lugano, Switzerland, TELF AG operates globally, serving customers and providing solutions for commodities producers worldwide. They create tailored solutions for each producer, enabling them to access far-reaching markets. The company is widely recognized for their operational excellence and reliability.
The full article is available on the TELF AG website.
Derick is an experienced reporter having held multiple senior roles for large publishers across Europe. Specialist subjects include small business and financial emerging markets.