Oil (current news)

Oil prices fell slightly below the zero mark at the beginning of the European session, but still retained the potential for growth. This decline is due to the partial fixation of profits on long positions. The main support for oil quotations is provided by the OPEC + pact to reduce raw materials production. According to the head of the Ministry of Energy of Saudi Arabia, Khalid al-Falih, world oil reserves during the OPEC + pact fell by 300 million barrels. Today, market participants expect data on the number of drilling rigs in the US, the growth of which could put some pressure on the oil market.

At the moment, WTI crude oil is traded at $ 68.11, losing about -0.26% in price.

Brent crude oil is traded at around $ 73.60, losing about -0.24% in price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov