Oil (current news)
Oil prices remain positive in the course of trading on Tuesday. The main support for oil quotes are provided by the optimism of investors, based on the actions of OPEC and its allies in the framework of the pact for a global reduction in oil production, which will last until the end of 2018. Also, additional support for oil quotations is provided by a reduction in the number of drilling rigs in the United States, which decreased by 5 units and amounted to 742 over the past week. It is also worth noting that the rise in oil prices is actually ahead of the recovery of the balance of supply and demand. The onset of a deep correction is quite possible.
- At the moment, WTI crude oil is traded at $ 62.13, adding about + 0.65% to the price.
- Brent crude oil is traded around $ 68.11, adding about + 0.49% to the price.
Also, see Technical Analysis of Oil
Alexander Sivtsov