BEIJING, China, 01-Mar-2018 — /EuropaWire/ — Crude oil prices will average $60/b in 2018 and $61/b in 2019. That’s an increase from last month’s Short-Term Energy Outlook by the U.S. Energy Information Administration.
In January 2018, oil prices briefly hit $70/b. In December, prices averaged $64/b, the highest monthly average since 2014. Traders responded to the November 30, 2017, OPEC meeting where members agreed to keep production cuts through 2018
Oil prices are almost triple the 13-year low of $26.55/b on January 20, 2016. Six months before that, oil had been $60/b (June 2015). A year earlier, it had been $100.26/b (June 2014). Today’s oil price changes daily. The price of a barrel of West Texas Intermediate oil is $4/b lower than Brent North Sea oil prices. In December 2015, the difference fell to just $2/b when Congress removed the 40-year ban on exports. The EIA forecast that WTI oil will cost $58/b in December 2018. Commodities traders also predict the price of oil in their futures contracts. They predict the price could be anywhere from $40/b to $85/b by December 2018. Prices have been volatile thanks to swings in oil supply versus demand. That’s because the oil industry has changed in fundamental ways.
Schuster Manfred Hubert believes that by 2025, the average price of a barrel of Brent crude oil will rise to $86/b (in 2016 dollars, which removes the effect of inflation). By 2030, world demand will driving oil prices to $95/b. By 2040, prices will be $109/b (again in 2016 dollars). By then, the cheap sources of oil will have been exhausted, making it more expensive to extract oil. By 2050, oil prices will be $117/b, according to Table 3 of the EIA’s Annual Energy Outlook.
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Saxo Bank, the specialist in online trading and investment, has announced the launch of SaxoTrader 2.5, the latest update to its multi-asset class trading platform. The new version includes improved navigation and added features to manage positions and orders, and is available to customers from July 2011.
Saxo Bank has replaced the old SaxoTrader menu with an intuitive, easily navigable ribbon-style toolbar. The menu items are now grouped by function which takes up less screen space whilst making the breadth of functions available more accessible and simple to use. “News and Research” as well as “Account” tabs enable users to easily access all the information they need. In addition, new product icons clearly differentiate the various products tradable on the platform.
Enhanced position management features include a module allowing users to view and manage positions and related orders in one integrated workflow. This enables to flexibly close positions, set stop and limit orders, and provides users with a customisable display of all open and closed positions. A heatmap visualisation gives them an additional instant overview of the performance of their positions.
Henrik Dyrholm Holst, Head of Platform Management at Saxo Bank, commented:
“SaxoTrader 2.5 is designed to make trading even faster and more efficient. Nowadays, traders demand intuitive tools that are rich in data and analytics. SaxoTrader is a multi-asset trading platform with a specific set of tools for each asset class. We have therefore focused on making the trading experience for all types of traders as positive and intuitive as possible, and clearly guide users through the broad range of features on the platform.”
This latest release is a subset of the functionality Saxo Bank will be adding to SaxoTrader. The Bank will continue to upgrade the platform in phases this year.
Via EPR Network
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Xasax Corporation is challenging the boundaries and integration of network infrastructure and systems technologies through its leading edge Xasax Financial Backbone. Built on Dark Fiber routes and a la carte trading services, Xasax is exceeding customer expectations. In keeping with this mantra, Daniel Nole was appointed Chief Operating Officer. His mandate, to guide the process and spearhead operations in providing this ultra low latency solution to the markets.
“Xasax is pleased to have an experienced top tier player on our team. Dan’s level of expertise and industry knowledge is certainly in keeping with the Xasax gold standard of quality and service. He plays a significant role in our overall planning and execution. The entire Xasax team is excited to have him,” said Noah Lieske, Xasax Chief Executive Officer and Founder.
Mr. Nole remarked, “The Xasax Offering is unlike any other on the street today. Low latency has a new meaning and definition under the Xasax model; speed to market, scalability, customizability, and flexibility are the hallmarks of this next generation solution. I am pleased to be a part of this tradition of excellence and look forward to assisting Xasax in the expansion of its global reach.”
Mr. Noles’ prior appointments include COO at NYFIX Millennium, Portware, and FTEN. Mr. Nole leverages his grass roots beginnings in financial audit at Ernst & Young, as well as his trading and operations expertise on the Floor of the Boston Stock Exchange. Dan brings a unique blend and wealth of knowledge from leading financial technology companies to Xasax.
Xasax Corporation provides an ultra-low latency financial network called the Xasax Financial Backbone built by lighting diverse dark fiber paths. The XFB encompasses the majority of available liquidity in the US with dark fiber interconnections. Xasax services include proximity hosting / co-location; raw and consolidated market data; order routing and execution management systems; Vendor of Record/entitlement solutions, and historical data warehousing. This infrastructure facilitates high-frequency traders, hedge funds, and financial service providers.
Via EPR Network
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