• Forex
  • Investments
  • Loyalty program
  • Promotions and contests
  • Analysis
  • Getting started
  • About us

Oil sees mild correction

Today, oil prices have been correcting slightly lower after yesterday's big rally. By the time of writing, Brent was down 0.33% at $75.03, and WTI was off 0.33% at $72.52/bbl.

Yesterday’s EIA report showed a weekly drawdown of 4.72 mln bbl, whereas analysts expecting a decline of only 31,000 bbl. Additional upside drivers include the energy crisis and the related high demand for oil in Europe, as well as the suspension of crude output at a number of large fields in Libya.

If the Brent price does not drop below $74.5/bbl today, it could climb to 76.5/bbl over the coming days. We forecast a rise in Brent to $ 75.5/bbl today.


There's a better website for you

A new exciting website with services that better suit your location has recently launched!

Sign up here to collect your 30% Welcome Bonus.