Oil (current news)

Oil prices are under pressure at the beginning of the European session. The main pressure on the oil market is exerted by the decline in quotations on the stock exchanges in Asia and Europe, after yesterday the US President Donald Trump announced the introduction of import duties on steel and aluminum. The introduction of duties, first of all, will strike at such trading partners of the USA, as China, Canada and Europe. The deterrent of a stronger decline in oil prices is the observance of the OPEC + pact, which in February was 149%, against the January value of 144%.

• At the moment, WTI crude oil is traded at $ 60.84, losing about -0.25% in price.
• Brent crude oil is traded at around $ 63.77, losing about -0.09% in price.

Also, see Technical Analysis of Oil

Alexander Sivtsov