Oil now
On Friday, oil is traded with a strengthening on the expectation of the results of the three-day meeting of OPEC. The reason for the strengthening of oil prices are rumors that that OPEC will agree with increase of the oil production for 600 thousand barrels per day, reports Bloomberg. Previously, the possibility of increasing production by 1 million barrels per day was discussed. But the oil market is still in a waiting position.
Decision on the results of the OPEC meeting is expected today. And before this time it is worth to be extremely careful with oil deals and commodity currencies.
Look Technical Analysis of Oil.
- At the moment, Brent oil is trading around $ 74.10, up about + 1.50% in price.
- WTI oil is trading at $ 66.30, rising about + 1.20% in price.
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Dani Levitan