Oil (current news)
Both brands of oil are trading under pressure at the beginning of the European session. The pressure on oil quotations is provided by the increase in production of oil in the United States. According to the forecast by EIA, oil production in the US next month will be increased by more than 80 thousand barrels per day to the level of 6.17 million barrels per day. Support for the oil quotations is provided by the expectations of the extension of the OPEC + pact.
- At the moment, WTI crude oil is trading at $ 56.62, losing about -0.25% in price.
- Brent crude oil is trading around $ 62.98, losing about -0.28% in price.
See Technical Analysis of Oil.
Alexander Sivtsov