Brent/USD. December 25, 2019 – Oil reached $67.20 per barrel
Brent quotes continue to update highs. This morning, the price of «black gold» rose to $67.20 per barrel. The growth factor was positive news from the front of trade negotiations between the US and China: US President D. Trump said, that the sides had finally approved the first phase of the trade deal. And now they are finalizing and translating the necessary documentation to sign the agreement.
In addition, yesterday the American Petroleum Institute (API) published a report according to which US crude oil inventories fell by almost 8 million barrels per week. Analysts expected a decline of 2 million.
Today we should not expect significant dynamics in the oil market, since most of the European and American sites are closed due to the celebration of Christmas.
Brent quotes continue to update highs. This morning, the price of «black gold» rose to $67.20 per barrel. The growth factor was positive news from the front of trade negotiations between the US and China: US President D. Trump said, that the sides had finally approved the first phase of the trade deal. And now they are finalizing and translating the necessary documentation to sign the agreement.
In addition, yesterday the American Petroleum Institute (API) published a report according to which US crude oil inventories fell by almost 8 million barrels per week. Analysts expected a decline of 2 million.
Today we should not expect significant dynamics in the oil market, since most of the European and American sites are closed due to the celebration of Christmas.