Oil (current news)
Oil prices move in a narrow range, below zero marks at the beginning of the European session. The main pressure on oil quotes continues to be the fear that the increase in oil production in the US could slow the market’s rebalancing. According to EIA forecasts, shale oil production in the US will grow by 131 thousand barrels per day in April, reaching a volume of 6.95 million barrels per day.
Today, the market will expect data on oil reserves in the US from API, the growth of which could exert additional pressure on oil quotes.
- At the moment, WTI crude oil is trading at $ 61.23, losing about -0.21% in price.
- Brent crude oil is trading around $ 64.78, losing about -0.26% in price.
Also look Technical Analysis of Oil
Alexander Sivtsov