Oil (current news)

Oil prices decline at the beginning of the European session. The decline in oil quotations is associated with partial fixation of profits on long positions. The main support for the oil market is provided by the prospect of introducing new sanctions against Iran. On May 12, the US President Donald Trump will decide to withdraw from the nuclear deal, after which new sanctions may be introduced against Iran, which will reduce the supply of raw materials in the market and push prices up.

Brent crude oil is traded at around $ 74.53, losing about -0.28% in price.

At the moment, WTI oil is traded at $ 67.92, losing about -0.32% in price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov