Oil (current news)
Oil prices shows mixed dynamics in the course of trading on Tuesday, but they remain near the maximum marks for the last three years. The main support for the oil market is provided by the OPEC + pact reducing the volume of raw materials.
It should be noted that oil prices are growing at a fairly rapid pace and, with the acceleration of the market rebalancing, it is possible that the deal to reduce production volumes may be curtailed earlier than at the end of 2018. Today, market participants will expect data on oil reserves in the US from the API, another reduction of which will support oil prices.
- At the moment, WTI oil is traded at $ 64.50, adding about + 0.31% to the price.
- Brent crude oil is traded around $ 69.95, losing about -0.38% in price.
Also, see Technical Analysis of Oil
Alexander Sivtsov