Oil (current news)
Oil prices show mixed dynamics at the beginning of the European session. The Brent brand maintains positions above the zero mark, while the WTI brand is losing ground.
During the previous week, WTI oil showed more active growth than Brent, due to the accident and the termination of the Keystone pipeline, through which oil is transported from Canada to the United States. By the evening of Sunday, the damaged section of the pipeline had to be removed and sent for examination, which indicates active renovation of the pipeline, so rapid resumption of oil supply is possible.
On November 30, the OPEC summit will take place in Vienna. During this meeting participants of the OPEC + pact may decide to extend it until the end of 2018 This may provide support to the oil market.
- At the moment, WTI crude oil is trading at $ 58.51, losing about -0.79% in price.
- Brent crude oil is trading at $ 63.68, adding about + 0.33% to the price.
Also, see Technical Analysis of Oil.
Alexander Sivtsov