Oil (current news)

Oil prices continue to move in a narrow range during the Asian session. The main pressure on oil quotes is exerted by the growth of stocks of raw materials in the United States. According to yesterday’s data from the EIA, oil reserves increased by 1.643 million barrels, against the decline in the previous period at -2.622 million barrels. The main factor supporting the oil market is adherence to the OPEC + pact. According to a report from Reuters, OPEC and its allies will adhere to their commitments to reduce production, despite rising oil prices.

• At the moment, WTI crude oil is traded at $ 64.61, adding about + 0.02% to the price.

• Brent crude oil is traded at around $ 68.85, losing about -1.41% in price.

Also, see Technical Analysis of Oil

Alexander Sivtsov