Oil (current news)

Oil prices continue to move in a narrow range at the start of the European session. The main obstacle to the resumption of price increases are fears that the growth of supply from the US and other producers, which are not covered by the OPEC + pact, undermine the efforts of the cartel and its allies in the matter of stabilizing the market. According to the IEA, the proposal on the oil market from manufacturers not covered by the OPEC + pact rose by 700 thousand barrels per day in February. According to the IEA, the proposal in 2018 will outstrip demand by 1.5 million barrels per day.

• At the moment, WTI crude oil is trading at $ 61.24, adding about + 0.08% to the price.
• Brent crude oil traded around $ 65.17, adding about + 0.08% to the price.

Also look Technical Analysis of Oil

Alexander Sivtsov