Oil now
The oil market is trading at the opening of the day after a decline at the start of the week. A limiting factor for oil prices is the expectation of data on the US oil inventories for the week and recent statements by the representative of Russia about intentions to withdraw from the OPEC deal to restrict oil production. Thus, earlier Russia announced its intention not to renew the agreement with OPEC because of what it lost its market share in favor of the United States. In turn, this questioned the preservation of the agreement to restrict oil production in OPEC and non-cartel countries, which as a result could resume the race to increase production and bring down the cost of oil.
Major crude oil brands stays near weekly lows under the pressure of correction after growth. The main influence on the oil market continues to have data on the US oil reserves, which will be released today and tomorrow.
Look Technical Analysis of Oil.
Brent crude oil traded in the region of $ 71.20, a decrease of about -0.00% in price.
WTI oil is traded at around $ 63.20, a rise of about + 0.10% in price.
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Dani Leviant
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