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"The oil felt confident"



Bidding for oil on 18 May resulted in the growth. In the first half of the day, the price of Brent dropped to $51,08. The sharp decrease coincided with the drop in our yields and the growth rate of gold to $1265,09.



19.May.17 8:34 AM
By Christina Orlina
Photo Toinnov.com

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"The oil felt confident"
During the American session, buyers managed to upgrade to a 3-week high. Brent crude oil rose 3.2%, to $52,71. The growth of quotations was promoted by the reduction of tension around the Donald Trump.

Traders are cautious ahead of the OPEC meeting, which is scheduled for 25 May in Vienna. They expect the cartel together with a number of major oil producing countries outside of OPEC, agreed to extend the period of production cuts.

Today, 19 May, Brent crude is trading at $52,83 (+0,8%). The price has broken the resistance of $52,60. Now buyers can take $53 and move to $53,50.

On May 18 the cost of the futures on Brent crude oil with delivery in July 2017 in the course of trading on the ICE exchange in London grew by 0.57% to $52,51 per barrel, WTI up 0.50% to $from 49.66 per barrel. The value of the futures for URALS grade oil for delivery in July 2017 at SPIMEX has decreased on 0,14%, to $49.73 a barrel.



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