Oil now - Ester Holdings

Oil now

At Friday’s trades, the price of major oil brands is at the opening of the day level, limited to the uncertainty associated with the OPEC meeting to limit oil production. Previously, OPEC members and non-cartel countries could not agree on quotas to cut oil production, which increased the pressure on oil quotes, despite data on the reduction of oil inventories in the United States. Earlier, EIA data showed an unexpected reduction in oil reserves in the US by 7.3 million barrels per week, for the first time in ten weeks of growth.

The restraint of the oil market, first of all, is due to the fact that it is not known what the restrictions on oil production will be. At the same time, the very fact of restriction does not cause any questions. But the lack of unity within OPEC indicates that cut of oil production will not be significant.

Look Technical Analysis.

At the moment, Brent crude is trading at $ 60.90, an increase of about + 1.50% in price.


WTI crude oil trades at $ 51.80, an increase of about + 0.80% in price.


Read also: “The Canadian dollar (CAD) – a feature of trading cross-rates”

Dani Levian

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