Risk-Averse Brokers Suspend Accepting New Trades from Oil Traders

[kreslik.news]

The oil trading pits have been rife with speculation about the outcome of the meeting of OPEC and non-OPEC oil-producing nations in Doha, Qatar this Sunday 17 April, where 20 oil-producing nations who are responsible for nearly three quarters of the world’s oil production will be present to contend with the global supply glut.

In light of the situation, some brokerages including RoboForex and HotForex have announced changes in trading parameters for CFDs on oil due to the upcoming OPEC meeting and the potential uncertainty surrounding the outcome. The brokers are optimizing their books and taking measures to deal with the uncertainty that ... (read more)