Oil (current news)

Oil prices move below the zero mark at the beginning of the European session. In general, this decline in oil prices is associated with continued fears that the increase in the extraction of raw materials in the US can neutralize the achievements achieved by the OPEC + pact.

Today, the market will expect data on the US oil reserves from the API, while the market participants remain cautious and rush to buy oil. Also, some uncertainty in the market is added by the expectation of the speech of the head of the Federal Reserve Powell, so, a significant change in the US dollar rate may also affect the commodity markets.

• At the moment, WTI crude oil is traded at $ 63.66, losing about -0.39% in price.
• Brent crude oil is traded at around $ 67.06, losing about -0.34% in price.

Also, see Technical Analysis of Oil

Alexander Sivtsov