Oil (current news)

Oil prices remain positive at the beginning of the European session. The main support for oil quotes is provided by the possibility of imposing new sanctions against Iran on the part of the United States. On May 12, the US President Donald Trump must take his decision to withdraw from a nuclear deal with Iran. In this case new sanctions may be imposed on Tehran for escalating the conflict in the Middle East. Also, support for oil quotations is provided by the continuing decline in the extraction of raw materials in Venezuela against the background of the financial and political crisis in the country.

Brent crude oil is traded at around $ 74.28, adding about + 0.39% to the price.

At the moment, WTI crude oil is traded at $ 68.18, adding about + 0.28% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov