Today, during trading on the European commodity market, experts from companies from top binary options brokers drew attention to the unusual dynamics of oil prices. If in the case of Brent oil we see a steady increase in prices, in the case of WTI oil there is zero growth, which could be triggered by both US statistics and news about the quality problems of shale oil in the Asian market.

In addition, market analysts predict that in the medium term, we may face another period of low oil prices, due to the decline in the indicators of the Chinese economy. The only factor that is still holding back the sharp drop in oil prices is the powerful information lobby on the part of Russia, which stubbornly continues to declare its intention to adhere to the agreement on the reduction of the volumes of raw material production within OPEC+.

At the time of this writing, futures contracts for delivery in May for Brent crude on the London ICE Futures Exchange reached $67.46 a barrel (+ 0.04% or 0.03 p.). The cost of the May futures contracts for WTI crude oil on the NYMEX stock exchange is consistently held at $59.94 a barrel.

Brent Crude (ICE)

WTI Crude Oil (Nymex)

It should be noted that the unofficial statistics of the American Petroleum Institute (API) suggests that oil reserves in the country increased last week by 1.93 million barrels. During the same period, there was a decrease in gasoline volumes in storage facilities in the United States by 3.469 million barrels. But the majority of market participants prefer to wait until the official statistics of the US Department of Energy is published before making larger deals. According to reputable market experts, it should be expected that the decline in oil volumes reached 2.2 million barrels.

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