Oil (current news)

Oil quotations at the Asian session are trading with strengthening on the expectation of new sanctions against Iran. The market is almost certain that on May 12 new sanctions related to the nuclear program will be adopted against Tehran. At the same time, the oil market practically did not react to the growth of drilling activity in the USA. Thus, the number of drilling rigs in the US increased by 9 units to the level of 834, the level of March 2015, over the past week.

At the moment, Brent crude oil is trading at around $ 75.40, adding about + 0.70% in price.

WTI oil is trading at $ 70.30, adding about + 0.80% in price.

Also, see Technical Analysis of Oil.

Hanzenko Anton