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Brent has grown after falling on the eve

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Brent has grown after falling on the eve
January 15
09:00 2019

Oil began to rise again after falling on the eve, when the signs of weakening of the PRC economy appeared.

In the morning, March contracts for Brent crude oil have grown by 1.1%- to $ 59.6. The February contracts for WTI crude oil also have shown a pretty decent growth – by 1.1%, at today’s session one barrel of this benchmark crude is already being traded at $ 51.
It is expected that oil reserves will decrease again. According to polls from the reputable Bloomberg agency, this week the market expects a drop of 2.5 thousand barrels.

A meeting of the OPEC+ monitoring committee will be held in Baku in mid-March. It will focus on the impact of the agreement to restrict the production in the energy market.

In February, a document setting out the rules for the organization’s cooperation with countries that are not members of the OPEC cartel will be submitted for discussion. Negotiations of the cartel’s members will be held on February 7-8, the rest will meet on February, 18-19.
It took about a month to form the schedule of all these meetings, which increased the volatility of oil as an asset.
Due to the increase in demand for natural gas caused by bad weather, the futures for it have grown by 16%.

The material was prepared with the participation of Katya Gordon,
a leading analyst of the brokerage company CT Trade

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