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Brent Oil to Trade in $57.7-59 Region

Friday’s oil quotes continue to correct. Brent oil at 11:20 EET was trading at the $58.94 per barrel. The price of WTI with August delivery is $53.17 a barrel. By yesterday’s close, North Sea oil on August contracts was trading at $58.48 per barrel, whilst light crude was going for $52.60 a barrel.

On the whole, the market is quiet at the end of this week. The situation with Greece still hangs in the balance, the Iran-G6 negotiations are ongoing and investors are getting tired of waiting for news. However, the quiet this week is in anticipation of the possible storm next week. As for us, we think it’s best to relax.

Until the end of the day, Brent will be trading in the $57.7-59 region, whilst WTI will be trading $52-53.5.


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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