Oil (current news)

Oil prices remain positive at the beginning of the European session. The main support to oil quotes is provided by the reduction in raw materials production within the OPEC + pact. Also, additional support was provided by the statement of the Saudi Energy Minister, who on Sunday noted that the parties to the deal should continue to cooperate, even after its end in late 2018. Also, some support is provided by the reduction of the number of drilling rigs in the US, the number of which, according to the data from Baker Hughes for the past week, decreased from 752 to 747 units.

• At the moment, WTI crude oil is traded at $ 63.48, adding about + 0.27% to the price.
• Brent crude oil is traded around $ 68.86, adding about + 0.36% to the price.

Also, see Technical Analysis of Oil

Alexander Sivtsov