Oil (current news)

Oil prices continue to trade below the zero mark at the beginning of the European session, despite the decline in oil reserves in the US.

• According to yesterday’s data from the API, oil reserves fell by -3.280 million barrels over the past week, against the growth of 5.231 million barrels in the previous period.

At the moment, the main pressure on the oil market is exerted by a trade war between the US and China. Investors can begin to record profits on fears that a trade war can negatively affect global economic growth.

• At the moment, WTI crude oil is traded at $ 63.34, losing about -0.27% in price.

• Brent crude oil is traded at around $ 67.92, losing about -0.28% in price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov