Oil (current news)
Black Gold has receded from the maximum values during the European session. In general, this dynamics is related to technical factors and profit-taking by investors after the daily highs are updated during Asian trading. Earlier support for oil quotations was provided by a statement by the Saudi Energy Minister of Energy. Khalid al-Falih said yesterday that members of OPEC and its allies outside the cartel should continue to coordinate the oil production constraint in 2019.
According to Khalid al-Faliha, the continuation of the pact is necessary to reduce the level of stocks of raw materials to an acceptable level. Today, market participants will expect data on the number of drilling rigs in the US, further growth of which will put pressure on the oil market.
- At the moment, WTI crude oil is traded at at $ 64.47, adding about + 0.26% to the price.
- Brent crude oil is traded at around $ 69.02, adding about + 0.17% to the price.
Also, see Technical Analysis of Oil
Alexander Sivtsov