Oil (current news)

Oil prices continue to move in a narrow range at the beginning of the European session. The main pressure is exerted by the growth of the US stocks of raw materials.

• According to the API, oil reserves for the past week increased by 5.321 million barrels, against the decline in the previous period at -2.739 million barrels.

In turn, the decline in oil prices is restrained by the message that Saudi Arabia and Russia are ready to extend the OPEC + pact for 2019.

At the moment, WTI crude oil is traded at $ 64.72, adding about + 0.13% to the price.

Brent crude oil is traded at around $ 69.72, adding about + 0.24% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov