Oil (current news)
Oil prices move in a narrow range at the beginning of the European session due to differently directed factors of influence on the market. The main support is provided by the reduction of raw materials production within the OPEC + pact, as well as the termination of the Forties pipeline. The pressure is maintained due to the growth in the production of shale oil in the US. That is why market participants expect data on oil and petroleum products in the US this week, while remaining cautious in the course of trades.
- At the moment, WTI crude oil is trading at $ 57.52, adding about + 0.52% to the price.
- Brent crude oil is trading at around $ 63.60, adding about + 0.30% to the price.
Also, see Technical Analysis of Oil
Alexander Sivtsov