Oil (current news)

Oil prices keep moderate growth at the beginning of the European session. The main support for oil quotations is caused by a decrease in oil reserves in the United States.

• According to published data by API, oil reserves fell by -5.222 million barrels over the past week, while analysts expected a decline of -3.200 million barrels.

Also, support for oil quotations is provided by the suspension of the North Sea pipeline system Forties. Today, the market will expect the next data on oil and petroleum products in the US, the reduction of which will provide additional support for oil prices.

• At the moment, WTI crude oil is trading at $ 57.81, adding about + 0.43% to the price.
• Brent crude oil is trading at around $ 64.02, adding about + 0.34% to the price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov