Oil (current news)
Oil prices move in a narrow range at the beginning of the European session, after a decline the day before. The decline in oil prices was caused by profit-taking by investors, as well as a sharp strengthening of the US dollar in the second half of Thursday’s trading.
At the moment, a deterrent is the expectation of some decline in demand due to seasonal fluctuations. Today, the market will expect data on the number of existing drilling rigs in the US. The growth of this number could exert additional pressure on oil quotes.
- At the moment, WTI crude oil is traded at $ 65.47, losing about -0.06% in price.
- Brent crude oil is traded at around $ 70.36, losing about -0.11% in price.
Also, see Technical Analysis of Oil
Alexander Sivtsov