Oil (current news)

Oil prices are traded near maximum marks at three-year highs. The main support for oil quotations is provided by the decrease in oil reserves in the US, the actions of the OPEC + pact, as well as the growth of oil imports from China. A still decisive growth rate of oil production in the United States is a deterrent. Over the past week, the number of drilling rigs in the United States has grown by 10 units and amounted to 752 units. It should be noted that the growth of existing installations occurred for the first time in 5 weeks, which indicates a new wave of activation of shale, against the backdrop of rising oil prices.

• At the moment, WTI oil is traded at $ 64.50, adding about + 0.31% to the price.
• Brent crude oil is traded around $ 69.94, adding about + 0.10% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov