Oil today: oil is growing because of the reduction of stocks in the US.
On Friday, oil quotations remain near the two-year highs, which is caused by the continued optimism in the oil market. The main support for oil is provided by the EIA data on oil reserves in the US, which decreased by 4.6 million barrels per week. Also, the market keeps dynamic for the strengthening of commodity assets, which also supports oil in a weakly liquid market.
Recommended for reading: Technical Analysis
- The nearest resistance levels: for WTI – 60.50 and 61.00 $ per barrel, for Brent – 67.00 and 67.50 $ per barrel.
- Support levels: for WTI – 59.50 and 59.00 $ per barrel, for Brent – 66.00 and 65.50 $ per barrel.
WTI chart, current price – 60.10 $
Brent chart, current price – 66.40 $
Hanzenko Anton