Oil (current news)
At the beginning of the week, the main oil brands are trading with a slight decrease, which is connected with the preservation of corrective movement and growth of drilling activity in the USA. So, the number of drilling rigs has increased once again by 10 units to 844 units, which corresponds to the levels of March 2015.
The market also expects the OPEC report, which will be released today. This report on the publication of optimistic data may cause renewed demand for oil.
- At the moment, Brent crude is trading at around $ 76.70, a decline of about-0.50% in price.
- WTI oil is trading at $ 70.50, a decline of about -0.30% in price.
Also, see Technical Analysis of Oil.
Hanzenko Anton