Oil (current news)

Oil prices continue to decline at the beginning of the European session. In general, this dynamics is associated with a partial profit-taking by investors, after the growth of oil quotations on the eve. Support for oil quotations has had a reduction in the number of drilling rigs in the US, which for the past week decreased by 4 units and amounted to 796 units. In turn, the market is still concerned about the increase in production of raw materials in the US, which was caused by the forecast EIA, according to which by the fourth quarter, oil production in the United States will be 11.17 million barrels per day, against the previous forecast at level 11, 04 million barrels per day.

• At the moment, WTI crude oil is trading at $ 61.88, losing about -0.26% in price.
• Brent crude oil is trading around $ 65.33, losing about -0.24% in price.

Also look Technical Analysis of Oil.

Alexander Sivtsov