Oil (current news)

Oil prices move in a narrow range in the course of trading on Monday. The main driver of the market is a possible extension of the OPEC + pact until the end of 2018. The decision to extend the pact will be taken on November 30. However, there are doubts among the market participants that the countries will extend the OPEC + pact until the end of 2018.

According to the statement of the Minister of Energy of Russia Alexander Novak, Russian manufacturers have not yet come to a common opinion about the terms of the extension of the deal, which gives rise to some uncertainty among investors in extending the OPEC + pact.

• At the moment, WTI oil is trading at $ 56.66, losing about -0.09% in price.
• Brent crude oil is trading at $ 62.53, losing about -0.30% in price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov