Oil (current news)
Oil prices remain positive at the beginning of the European session, despite the growth of oil reserves in the US.
- According to yesterday’s data from the EIA, oil reserves increased by 6.218 million barrels over the past week, exceeding growth of 2.17 million barrels in the previous period.
- Gasoline stocks increased by 1,171 million barrels, which is higher than the previous growth of 0.84 million barrels.
The main support for the oil market is provided by the reduction in raw materials produced by the OPEC + pact, as well as the expectation of the resumption of sanctions against Iran.
At the moment, Brent crude oil is trading at around $ 73.40, adding about + 0.15% to the price.
WTI oil is trading at $ 67.69, adding about + 0.31% to the price.
Also, see Technical Analysis of Oil.
Alexander Sivtsov