• Oil is trading lower

Market news

20 October 2016

Oil is trading lower

This morning, the New York futures for Brent have fallen in price 0.49% to $ 52.41 and crude oil futures for WTI decreased 0.56% to $ 51.53 per barrel. Thus, the black gold is correcting after recent gains. Market participants took profits on the background of lower US oil stocks by 5.2 million barrels. However, in general, the mood of investors remains positive. In addition, support for black gold had optimism about a possible OPEC production cut.

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