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Brent Could Rise to $66.5 per Barrel by Day’s Close

Oil quotes on Tuesday morning are on the rise. Brent crude costs $65.30, whilst WTI with July delivery was trading at $60.63 per barrel. At Monday’s close, North Sea oil on July contracts was trading at $64.87 a barrel and the price of light crude was $60.23 per barrel.

Today’s quotes are on the rise as the publication of oil reserve statistics at last week’s close in the US are to be announced.  According to preliminary data, the reserve amount has fallen by 2 million barrels. This makes it several weeks in a row that a fall in reserves has taken place, making it a real tendency that doesn’t sit well with investors.

Brent could rise to $66.50 per barrel by the day’s close, whilst WTI will approach $61.30 per barrel.

Attention:

Forecasts which are made in the review constitute the personal view of the author. Commentaries made do not constitute trade recommendations or guidance for working on financial markets. Alpari bears no responsibility whatsoever for any possible losses (or other forms of damage), whether direct or indirect, which may occur in case of using material published in the review.

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