Oil today: oil quotes awaiting API and EIA reports
On Tuesday, oil quotations are traded with a slight strengthening on the correction after another sell-off on data about the possibility of increasing oil production in the United States, according to EIA forecasts. With continued concerns, the attention of the oil market remains confined to reports on oil reserves in the US, which will come out today and tomorrow.
The reason for the negative sentiment in the oil market, in addition to EIA forecasts, is also data on drilling activity and the existing production dynamics. As a result, there may be a noticeable increase in oil reserves in the United States. As a consequence, these news will increase pressure on oil, which already remains in a downward trend.
Recommended for reading: Technical analysis of oil and not only
- The nearest resistance levels (signals for the sale of oil): for WTI – 61.80 and 62.30 $ per barrel, for Brent – 65.50 and 66.00 $ per barrel.
- Support for the mark (signals to buy oil): for WTI – 60.70 and 60.20 $ per barrel, for Brent – 64.30 and 63.60 $ per barrel.
Graph of WTI. Current price – $ 61.40
Graph of Brent. Current price – $ 64.90
Ganzenko Anton