Oil (current news)

Oil quotes began a new week with strengthening on the growth of optimism regarding the termination of the trade confrontation between the US and China. As a result, the main oil brands updated the annual highs and went to correction. An additional factor that strengthened the correction movement and uncertainty in the oil market remains the expectation of the results of the OPEC meeting. The general expectations for the upcoming OPEC meeting remain very optimistic, thus supporting the oil because of OPEC’s optimistic rhetoric.

At the moment, Brent crude is traded at around $ 78.70, with an increase of about + 0.30% in price.

WTI crude oil is traded at $ 71.60, rising about + 0.35% in price.

Also, read: “Nuclear agreement with Iran, a nuclear threat or a lever of influence on the oil market”

Dani Leviant