Oil (current news)

Oil prices move in a narrow range at the beginning of the European session, while maintaining a positive attitude. The main support for oil prices is provided by the continuing tensions in the Middle East, which threatens with the introduction of new sanctions against Iran. Also, the market is supported by the willingness of Saudi Arabia and Russia to extend the OPEC + pact for 2019. The restraining factor is still the fears of rising oil production in the US, already today the market will expect data on the reserves of raw materials in the States from the API.

• At the moment, WTI crude oil is traded at $ 65.69, adding about + 0.21% to the price.
• Brent crude oil is traded at around $ 69.66, adding about + 0.20% to the price.

Also, see Technical Analysis of Oil

Alexander Sivtsov