Oil today: oil undergoes correction while expects data on oil reserves in the US - Ester Holdings

Oil today: oil undergoes correction while expects data on oil reserves in the US

On Tuesday, oil prices remain under pressure of waiting for data on oil reserves in the US from API and correction after growth. So, yesterday the oil quotations were supported by the statement of the representative of Israel that Iran continues to develop the nuclear program, which caused the growth of demand for oil due to the introduction of sanctions against Iran.

At the same time, the oil market continues to maintain a pessimistic attitude, caused by the growth of drilling activity and the achievement of the historical maximum for oil production in the US to a level of 10.26 million barrels per day.

  • The nearest resistance levels are (signals to sell oil): for WTI – 69.00 and 69.50 $ per barrel, for Brent -75.00 and 75.50 $ per barrel.
  • Support levels are (signals to buy oil): for WTI – 67.00 and 66.50 $ per barrel, for Brent – 73.50 and 73.00 $ per barrel.




Hanzenko Anton

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