Oil (current news)
Oil prices remain near the maximum marks of 2015. Some influence on the movement of oil quotations is provided by mixed data on oil and petroleum products in the US. The data indicate their contraction for the eighth consecutive week, which supports the oil market. See “Oil is under pressure: data on oil reserves in the USA“.
Today, the market participants is focused on the decision of Donald Trump to extend the easing of sanctions against Iran, which may be adopted on Friday. The recent protests in Iran, which killed 21 people, can aggravate the situation and lead to the lifting of the easing of sanctions against Iran. In the event that it is decided not to prolong the mitigation of sanctions, this threatens by the reduction of the supply of oil from Iran, which will further push oil prices upward.
- At the moment, WTI crude oil is traded at $ 63.59, adding about + 0.03% to the price.
- Brent crude oil is traded around $ 69.17, losing about -0.04% in price.
Also, see Technical Analysis of Oil
Alexander Sivtsov