Oil now
On Friday, oil quotations retain a restrained positive dynamics, which is caused by interruptions in oil production in Canada and Libya. The market also expects sanctions against Iran, which will also have a positive impact on the cost of oil quotes.
From the negative factors that may affect the oil, it is worth mentioning the entry into force of new quotas for oil production in OPEC and not in the countries that in the cartel, which, in turn, come into effect from the beginning of July. In conditions of reduced production in Canada and Libya, this increase in quotas will be little appreciable for the market, before the resumption of oil production.
Look Technical Analysis of Oil.
At the moment, Brent crude oil is traded around $ 78.40, an increase of about + 1.10% in price.
WTI crude oil is trading at $ 73.90, an increase of about + 0.10% in price.
Dani Levitan