Oil today: oil retreated from annual highs
On Monday, oil quotations are traded with a slight decrease, remaining under pressure of correction after growth. Also, the decline in the cost of oil is caused by the data on drilling activity in the United States. So, over the past week, the number of drilling rigs in the US increased by 10 units to around 752. Despite this, the dynamics of oil is rising. Market attention is focused on data on oil production and reserves in the US, which will come out later this week due to today’s weekend in the US.
Recommended for reading: Technical Analysis
- The nearest resistance levels: for WTI – 64.70 and 65.00 $ per barrel, for Brent – 70.00 and 70.50 $ per barrel.
- Support levels are: for WTI – 64.00 and 63.50 $ per barrel, for Brent – 69.50 and 69.00 $ per barrel.
WTI chart, current price – $ 64.30
Brent chart, current price – 69.70 $
Hanzenko Anton