Oil today: oil is under pressure of correction
On Thursday, oil quotations remain under pressure of correction after the growth and data on the growth of shale oil production in the US. The latest report showed record growth of shale oil in the USA at 94K bpd to 6.41m barrels. This statistics significantly undermined optimism and strengthened the negative sentiments for the oil market. Positive factors for oil are data on the closure of the pipeline in the North Sea and the OPEC agreement.
Recommended for reading: Technical Analysis
- The nearest resistance levels: for WTI – 58.30 and 58.60 $ per barrel, for Brent – 65.00 and 65.80 $ per barrel.
- Support levels are: for WTI – 57.80 and 57.40 $ per barrel, for Brent – 63.90 and 63.30 $ per barrel.
WTI chart, current price – $ 57.90
Brent chart, current price – 64.40 $
Hanzenko Anton