Oil (current news)
The main oil brands at the trades on Friday remain at the opening level of the day, being under pressure of correction and low activity in the market. The oil market is more inclined to correction before the closing of the week and the lack of new data on Iran.
On the other hand, oil quotes are not in a hurry to go into correction, waiting for the OPEC meeting to be held next week. From this meeting, traders expect confirmation of forecasts for the growth in demand this year and news about the OPEC agreement on limiting oil production. Less optimistic expectations of the oil market remain on the upcoming data on drilling activity in the US, which will come out today.
- At the moment, Brent crude is traded at around $ 79.60, with an increase of about + 0.45% in price.
- WTI crude oil is traded at $ 71.60, an increase of about + 0.25% in price.
Also, see: Technical analysis of oil.
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Dani Leviant