Oil (current news)

Oil prices remain in positive territory at the beginning of the European session. The main support for the oil market is provided by geopolitical tensions in the Middle East. Market participants fear that the US will resume sanctions against Iran, against which the supply of raw materials in the market may decrease.

Today, market participants will expect data on oil reserves in the US from the API, the growth of which could put pressure on oil quotes.

At the moment, WTI crude oil is traded at $ 69.10, adding about + 0.30% to the price.

Brent crude oil is traded at around $ 75.02, adding about + 0.07% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov