STARTRADER Monday’s Market Update 15-05-2023

On Monday, May 15th, oil prices experienced a decline as concerns regarding fuel demand in the United States and China, the world’s two largest oil consumers, outweighed the positive sentiment surrounding supply shortages resulting from production cuts implemented by the OPEC+ group. Additionally, the resumption of purchases by the United States of its reserves failed to offset these apprehensions. Ahmed Yanar, the head of the Supreme Election Commission in Turkey, announced that President Recep Tayyip Erdogan is currently leading the presidential race. After counting 91.93% of the votes, Erdogan secured 49.49% of the total votes. His main rival and opposition candidate, Kemal Kılıçdaroğlu, obtained 44.49% of the votes.

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