Oil (current news)

Oil prices remain fairly low-key dynamics at the beginning of the European session.The main support for oil quotes is caused by a decrease in US stocks of raw materials. See https://esterholdings.com/en/2017/10/18/neft-v-neopredelennosti-2/.

Also, oil quotes are supported by rumors that OPEC and other countries outside the cartel are inclined to prolong the OPEC + pact until the end of 2018. In addition, the market remains concerned that, due to rising oil prices, shale producers may increase production, which can level the effect of the OPEC + pact.

• At the moment, WTI crude oil is trading at $ 51.89, losing about -0.29% in price.
• Brent crude oil is trading around $ 58.02, losing about -0.22% in price.

Alexander Sivtsov