Oil today: oil grows on data from Saudi Arabia
After a short decline, oil quotations resume the upward trend. The reason for the strengthening of oil is the optimistic sentiment caused by data from Saudi Arabia. Thus, the latest data from the Ministry of Energy of Saudi Arabia announced its intention to reduce exports in December to 7 billion. barrels per day. That, in turn, had a noticeable support to oil quotes.
The oil market continues to monitor the situation in the Middle East, especially over the external political Lebanon. So, the government of the UAE, Bahrain and Kuwait recommend leaving Lebanon for their citizens in the near future. Which, in turn, may indicate an increase in military tension in the region.
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- The nearest resistance levels: for WTI – 57.50 and 58.00 $ per barrel, for Brent – 64.50 and 65.00 $ per barrel.
- Support for the mark: for WTI – 56.50 and 56.00 $ per barrel, for Brent – 63.00 and 62.50 $ per barrel.
Hanzenko Anton