Oil (current news)

Oil prices remain in the red zone at the beginning of the European session. The main pressure on the oil market is exerted by the growth of oil reserves in the US.

• According to API data, the US oil inventories rose by 0.933 million barrels over the past week, against a decline of -0.907 million barrels in the previous period.

Also, additional pressure is exerted by the strong position of the US dollar, against which the purchase of oil becomes less profitable for holders of other currencies.

• At the moment, WTI crude oil is traded at $ 62.73, losing about -0.44% in price.
• Brent crude oil is traded at around $ 66.30, losing about -0.33% in price.

Also., see Technical Analysis of Oil

Alexander Sivtsov