Oil (current news)
Oil prices are inactive in the course of Tuesday trading. The reduction of exports from Iraq on the side of the oil market because of the conflict around Kurdistan. According to Reuters on Monday, oil deliveries from Kurdistan amounted to 280 thousand barrels of knocking out of a possible 600 thousand. Also, support for oil quotes continues to be reduced by 7 units in the number of drilling rigs in the United States over the past week.
There are rumors among the market participants that these oil prices bear a certain benefit for the market. That is why the oil producers will keep current production volumes. It is also worth noting that a stronger rise in oil prices could provoke shale miners to increase production volumes, which will cause a new wave of supply saturation in the market.
- At the moment, WTI crude oil is trading at $ 51.85, losing about -0.13% in price.
- Brent crude oil is trading around $ 57.30, losing about -0.12% in price.
Alexander Sivtsov