• Oil little changed in early trading

Market news

28 July 2016

Oil little changed in early trading

This morning, New York crude oil futures WTI rose 0.12% to $ 41.97 and Brent oil futures were down -0.07% to $ 43.88 per barrel. Thus, the black gold is trading mixed but with little activity after the recent collapse. Forecasts for oil remain weak, refinery continue to supply more than the market can consume. Also, stocks grew by 1.7 million barrels contrary of an expected reduction of 2.3 million barrels. Oil production in the US has also increased.

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