Oil prices

Oil prices at the beginning of the European session are traded in a narrow range after growth in the course of trading on Thursday. The main support to the oil quotations is provided by a decline in oil reserves in the US over the past week. According to published data, oil reserves decreased by -1.616 million barrels, against the growth in the previous period at 1.841 million barrels. The change in crude oil reserves in Cushing from the EIA was -2.664 million barrels, exceeding the forecast of analysts at -1.505. million barrels.

• At the moment, WTI oil is traded at $ 62.70, losing about -0.11% in price.
• Brent crude oil is traded at around $ 66.28, losing about -0.17% in price.

Also, see Technical Analysis of Oil

Alexander Sivtsov