Oil (current news)
Oil prices remain positive at the beginning of the European session. Support for oil quotations is provided by a decline in oil reserves in the United States.
- According to the API, oil reserves for the past week decreased by -1.050 million barrels, against the growth in the previous period at 3.292 million barrels.
The main pressure on the oil market is exerted by the expectation of further growth in oil production in the US.
Today, market participants will wait for government data on oil reserves in the United States, the decline of which will support oil quotes, otherwise oil will resume decline.
- At the moment, WTI crude oil is traded at $ 63.62, adding about + 0.36% to the price.
- Brent crude oil is traded at around $ 67.19, adding about + 0.49% to the price.
Also, see Technical Analysis of Oil.
Alexander Sivtsov