Oil (current news)

Oil prices move near zero marks at the beginning of the European session. The main support for oil quotes is provided by the reduction in raw materials production within the OPEC + pact, as well as the IMF forecast for the world economy growth in 2018. According to the IMF, the growth of the world economy in 2018 will be 3.9%, which exceeds the October forecast of 3.7%. The restraining factor for the further rise in oil prices was the growth of oil reserves in the United States. According to the API, oil reserves in the US rose by 4.755 million barrels over the past week, against a decline of -5.121 million barrels in the previous month.

• At the moment, WTI crude oil is traded at $ 64.44, losing about -0.05% in price.
• Brent crude oil is traded at around $ 69.78, losing about -0.26% in price.

Also, see Technical Analysis of Oil

Alexander Sivtsov