Oil (current news)

Oil prices move in the red zone at the beginning of the European session, but at the same time retain the potential for growth. The main pressure on the market continues to be the growth of oil production in the United States. In turn, the market expects a decision on a nuclear deal between the US and Iran, which will be adopted on May 12. The introduction of new sanctions against Tehran threatens with the reduction of the supply of raw materials in the world market and support the rise in oil prices.

At the moment, Brent crude is trading at around $ 73.39, losing about -0.42% in price.

WTI oil is trading at $ 68.30, adding about -0.25% in price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov