Quite a lot has been happening on the oil market lately, although price changes are not that dynamic. Nevertheless, it is worth paying attention to some of today's news:
- The EU agreed on a cap on Russian oil at USD 60 per barrel and fixed the price -5% below the market price. Poland has until 09:00 am GMT tomorrow to agree to this proposal so that EU authorities can fully approve this decision
- The CEO of Chevron indicated that OPEC+ will most likely be more active in the oil market in the near future, he also sees the risk of higher oil prices
- The U.S. Department of Energy requests an immediate end to the release of strategic reserves, which have fallen to the lowest level since 1984
OIL.WTI price is still higher compared to last week, but there is still one session left. In general, oil remains in an upward sequence, however two moving averages crossed recently which has formed a bearish ‘death cross’ which can at times precede a turn lower. Source: xStation5
Start investing today or test a free demo
Open account Try 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.