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Oil falls after the growth on Friday

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Oil falls after the growth on Friday
December 16
09:00 2019

On Friday energy prices were growing significantly, but this morning has brought the expected correction.

So, at 8:15 (Moscow time) the Brent oil futures fell by 0.22 US dollars (0.34%), to the level of 65 US dollars per barrel. Over the past trading session, the asset has increased 1.59% (or 1.02 US dollars) and closed at around 65.22 US dollars per barrel.

At the same time, oil futures of the American WTI fell by 0.23 US dollars (0.38%), to 59.84 US dollars per barrel. For the previous session the growth amounted to $ 0.89, or 1.5%. The asset closed at $ 60.07 per barrel.

The energy market significantly grew on Friday, as the odious US president Donald Trump said that China and the United States had agreed on the first phase of the trade deal.

Today, when spirits fell, traders have taken a more cautious position. Analysts believe that contradictory and incomplete information on the course of negotiations between China and the United States will put “bearish” pressure on the energy market this week. Nevertheless, a positive attitude of market participants will maintain a tendency to increase prices.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

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