Oil today: the oil market is in anticipation of the OPEC meeting

At the trades on Thursday, oil is trading in a narrow range due to expectations of the results of the meeting of OPEC and non-cartel countries. So, yesterday the oil showed multidirectional dynamics, which was caused by ambiguous data on oil reserves in the US. But after, corrected and took a waiting attitude.

Now, the dynamics of oil will depend on the decisions taken by OPEC and non-cartel countries to extend the arrangement that limits world oil production.

Recommended for reading: Technical Analysis

• The nearest resistance levels: for WTI – 58.00 and 58.50 $ per barrel, for Brent – 63.50 and 64.00 $ per barrel.
• Support levels: for WTI – 57.00 and 56.50 $ per barrel, for Brent – 62.00 and 61.50 $ per barrel.

WTI chart, current price – $ 57.50

Brent chart, current price – 62.70 $

Hanzenko Anton