Oil (current news)
Oil prices demonstrate moderate dynamics in the course of Friday trading, after some recovery the day before. The main support for oil quotations is provided by the actions of OPEC and its allies to reduce production. Also, support is threatened by a strike in Nigeria and a tense situation in the Middle East, amid growing fears of interruption of oil supplies to the world market. Previously, the decline in oil prices was caused by a significant increase in gasoline reserves in the US, which in the future could cause an increase in oil reserves.
- At the moment, WTI crude oil is trading at $ 56.88, adding about + 0.34% to the price.
- Brent crude oil is trading around $ 62.49, adding about + 0.47% to the price.
Also, see Technical Analysis of Oil.
Alexander Sivtsov