Oil (current news)

On Friday, oil quotes remain traded in different directions on the data on the growth in oil production in the US. The data that oil production in the US reached a new high of 10.47 million barrels per day increased pressure on oil and widened the gap between WTI and BRENT brands. Despite the fact that crude oil inventories in the US declined during the week.

The market continues to monitor the volume of oil production in OPEC, which are going to increase. These expectations exert additional pressure on oil, acting as a certain negative factor that plays into the hands of sellers.

See Technical Analysis of Oil.

At the moment, Brent crude is traded at around $ 77.80, with an increase of about + 0.3% in price.

WTI oil is traded at $ 66.50, a decline of about-0.80% in price.

Also, read: “Analysis of speeches of key persons of the financial market”

Dani Leviant