Oil today: oil rises in price based on data on supply interruption

Oil quotations markedly accelerated growth based on data on the interruption of supplies through the pipeline in the North Sea due to the discovery of a crack. Such a significant increase in oil prices was caused by the significant role of this pipeline, namely 400,000 barrels per day, 40% of North Sea oil. This news was received by the market very positively, despite the fact that this temporary phenomenon and the lack of exports will be compensated. Despite this, oil of both brands is trading with a plus near two annual maximums.

Recommended for reading: Technical analysis.

• The nearest resistance levels: for WTI – 59.00 and 59.50 $ per barrel, for Brent – 66.00 and 66.50 $ per barrel.
• Support levels: for WTI – 58.00 and 57.70 $ per barrel, for Brent – 65.50 and 65.00 $ per barrel.

WTI chart, current price – $ 58.50

Brent chart, current price – 65.70 $

Hanzenko Anton