Brent is trading at the highest level since March after breaking above local consolidation range. Resistance at $46.50 is being tested currently. Strong decline in oil and gasoline stocks signalled by API is the main short-term factor fuelling price gains on the oil market. Apart from that, approaching hurricane Laura caused production facilities and refineries in the Gulf area to halt operations. However, the impact of the hurricane should be temporary and will be visible in next week's data.
Brent (OIL) breaks above local consolidation range and trades above $46 per barrel. Source: xStaiton5
Start investing today or test a free demo
Create account Try a demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
