Oil (current news)

Oil prices remain positive at the beginning of the European session. At the moment, the weak position of the US dollar has been supporting the oil market, which is declining for the fifth consecutive session in relation to the basket of currencies. This decline in the US currency has a favorable effect on the demand for oil among holders of other currencies. In turn, there are still concerns about increasing oil production in the US, which is hampered by a stronger increase in oil prices.

• At the moment, WTI crude oil is traded at $ 61.72, adding about + 0.62% to the price.
• Brent crude oil is traded at around $ 64.77, adding about + 0.68% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov