Oil (current news)
Oil prices move in a narrow range after a decline in the second half of Monday bidding, which was caused by profit-taking by investors after a two-week high. Oil still retains its upside potential, amid the worsening situation in the Middle East.
On Monday, the regular Iraqi army knit the Kirkuk oil fields under control, where the oil production temporarily suspended, therefore the production of raw materials fell by 275,000 barrels.
Also, the aggravation of the conflict around Kurdistan jeopardizes the supply of oil from this region, that is why the supply on the market may generally fall by 650,000 barrels per day.
- At the moment, WTI crude oil is bidding at $ 51.84, losing about -0.06% in price.
- Brent crude oil is bidding around $ 57.88, adding about + 0.10% to the price.
Alexander Sivtsov