Oil (current news)

Oil prices move in a narrow range above zero marks. The main support for oil quotes is provided by the decline in oil reserves in the US over the past week. According to the API, oil reserves fell by -11.190 million barrels, against the decline in the previous period at 4.992 million barrels. In turn, oil production in the US grows and already in January can overcome the mark of 10 million barrels per day, which may negatively affect the oversupply of supply in the market.

• At the moment, WTI oil is traded at $ 63.48, adding about + 0.83% to the price.
• Brent crude oil is traded around $ 69.17, adding about + 0.51% to the price.

Also, see Technical Analysis of Oil

Alexander Sivtsov