Oil (current news)

Oil prices continue to move in a narrow range slightly below the zero mark. The main pressure on the oil market makes the increasing production in the US and other countries that are not covered by the OPEC + pact. Also according to data from Baker Hughes, the number of drilling rigs in the US increased by 4 units in the previous week and amounted to 800 units. The main support for oil prices receieves from the effect of the OPEC + pact, as well as the continued decline in the extraction of raw materials in Venezuela in connection with the financial crisis in the country.

• At the moment, WTI oil is trading at $ 62.08, losing about -0.53% in price.
• Brent crude oil is trading around $ 65.88, losing about-0.50% in price.

Also look Technical Analysis of Oil

Alexander Sivtsov