Oil now

Oil quotes received significant support for the possibility of interruptions in oil supplies from the Gulf of Mexico because of the bad weather. The report that the workforce was evacuated from two oil-producing platforms in the Gulf of Mexico due to the impending storm “Gordon”. As a result, the oil of the main brands has sharply strengthened, and the WTI brand has overcome the psychological barrier of $ 70 per barrel.

It is expected that the storm will gain strength closer to the coast, which can complicate the work on other oil-producing platforms. As a result, an upward rally of oil may last. But also do not forget that weather conditions have a relatively short-term impact on the market.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 79.10, up about + 1.30% in price.

WTI oil is trading at $ 70.90, with an increase of about 1.70% in price.

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Dani Levitan

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