Oil (current news)

Oil prices recovered slightly at the beginning of the European session, after a significant decline the day before. The decline in oil contributed to yesterday’s data from the EIA on oil reserves in the US, which pointed to their growth over the past week. See “Oil prices decline, data on oil and petroleum products in the US.“

In turn, the OPEC pact for global oil production reduction continues to support the market. According to calculations by Reuters, in February compliance with the pact amounted to 149%, against 144% in January.

• At the moment, WTI crude oil is traded at $ 63.67, adding about + 0.19% to the price.
• Brent crude oil is traded at around $ 67.11, adding about + 0.10% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov