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BULL OLJA X5 VON

  • Symbol BULL OLJA X5 VON
  • ISIN DE000VS0EW84
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5X Long Index linked to Brent Crude Oil FutureUSD 
Please note that this is an indication.

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Commodities Update 13

Important legal information


Oil prices rose up to two percent today after data revealed that U.S. drilling slowed. U.S. drillers have cut the number of rigs in operation for three straight weeks, according to Reuters. Low prices due to high demand have hit drillers, especially in the United States. The decline in U.S. production could eventually lead to a long-term price lift. Still, the global battle of oil producers for market share could lead to an increased surplus and consequently keep the prices low. That the oil producer Samson Resources had to file for bankruptcy last week, is a hint for the seriousness of the situation.

Gold gained from the Fed’s decision not to raise interest rates. The Federal Reserve justified its decision with high volatility in financial markets in August and with the market situation in China. Raising interest rates could have led to a strengthening Dollar. This would have contributed to decreasing exports, which are already at a lower level because of the devaluation of the Yuan.


Copper fell down to a two-week-low of nearly 5.200 USD per ton, last week. At the beginning of this week, prices slightly recovered. The Chinese Government announced increased infrastructure spending, which could lead to a higher copper demand. The corporation Glencore said, they would close some of their mines in Sambia and Kongo for a certain period of time, to decrease supply. Analysts still expect an oversupply of copper for 2016.

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