Oil today

Oil quotations remain trading in positive territory after rising at the beginning of the day at the clash between Iraq and the Kurds. This armed confrontation caused a wave of fears, as Iraq is the second major importer of oil in OPEC.

As a result of the possibility of reducing oil exports from Iraq, oil quotes have significantly increased in price and remain trading near the October highs. But, along with this, there are no big decisions about Iraq yet, and the upward dynamics of oil remains limited by the maximum of September. Also the position of oil remains extremely unstable due to the impulsive growth of oil prices, which in the end can cause the formation of corrective motion.

• The nearest resistance levels: for WTI – 52.50 and 53.00 $ per barrel, for Brent – 58.50 and 59.00 $ per barrel.
• Supported by the mark: for WTI – 51.50 and 51.00 $ per barrel, for Brent – 57.50 and 57.00 $ per barrel.

Ganzenko Anton