This week, the trading sessions have started quite quickly, marking an increase in the activity of traders in the oil market. By the close of the session on the Asian trading platforms, oil assets had been appreciated due to two main factors: a tense atmosphere in the royal family of Saudi Arabia and a decrease in drilling activity in the United States. In the first case, it should be noted that the crisis in the royal family of Saudi Arabia has been worsened after the death of eight dignitaries (including the Prince Mansour bin Mukrin) as a result of the helicopter craft.

The WTI Crude Oil barrel has added to the mark of $ 55.76 (+ 0.22%) during the trades at the Nymex exchange. During the trading session on the ICE exchange, the Brent crude oil benchmark barrel has been fixed at the mark of $ 62.28, which means an appreciation by 0.23% compared to the Friday's results. If you get acquainted with the data of the markets, you will immediately notice that these are the best results of the last two years.

WTI Crude Oil (Nymex)

Brent Crude (ICE)

According to Baker Hughes, a company that provides maintenance services for drilling rigs in the United States, in the past week there has been a significant decrease in the number of drilling rigs in the country. According to company analysts, the number of operating drilling rigs in the US has declined over the past seven days to 729 (-8). The fall in the number of installations has been fixed for the fourth consecutive week.

Undoubtedly, this factor, coupled with OPEC's decision to extend the terms of the agreement on reducing oil production by the end of 2018 (Oil Cut Deal), will lead in the near future to a significant increase in quotations for the "black gold".

Experts also note the enormous impact on the oil market of the struggle for influence in the royal family of Saudi Arabia, where under the pretext of fighting corruption, Prince Al-Walid ibn Talal was arrested. As a result, the securities of his investment company KingdomHoldings collapsed yesterday by as much as 10% during the bidding on the Tadawul stock exchange.

The head of the royal house, Salman ibn Abdul-Aziz, has created a new anti-corruption body headed by Crown Prince Mohammed ibn Salman. The leadership of the new body also includes the Attorney General, the head of the Commission of the National Anti-Corruption Committee, the chairman of the Monitoring and Investigation Commission, the head of the National Security Service, and the director of the General Audit Bureau.

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