Oil (current news)
Oil prices keep a restrained growth at the beginning of the European session. The main driver of the market is the expectation of the OPEC summit in Vienna, where the issue of extending the OPEC + pact to the end of 2018, as well as oil production in the US, may be decided.
Today, data by the API on crude oil reserves in the US will be published. The growth of crude oil reserves will put pressure on oil quotations. Also, the growth of oil prices is held back by the cautious position of investors in anticipation of the OPEC summit, which is scheduled for November 30.
- At the moment, WTI crude oil is trading at $ 56.55, adding about + 0.23% to the price.
- Brent crude oil is trading at $ 62.48, adding about + 0.42% to the price.
Also, see Technical Analysis of Oil.
Alexander Sivtsov