Oil (current news)

Oil prices are traded under pressure at the beginning of the European session. The main pressure on oil quotes is exerted by the fear that the increase in oil production in the US can neutralize the effect achieved by observing the OPEC + pact. In turn, the support of oil quotes is provided by the position of Russia and Saudi Arabia, which will not increase oil production by the end of the year, even if the stocks of raw materials are reduced to the required levels, for stable support of prices in the market.

• At the moment, WTI oil is traded at $ 62.13, losing about -0.57% in price.
• Brent crude oil is traded at around $ 65.23, losing about -0.46% in price.

Also, see Technical Analysis of Oil.

Alexander Sivtsov