Oil price is rising, but the market is cautious

On Tuesday, December 29, a moderate increase in oil prices continued: the price of Brent rose by 0.78%, to $ 51.26 per barrel, and the price of WTI increased by 0.89%, to $ 48.12 per barrel.

The market expects with some caution the easing of restrictions for the OPEC + countries on oil production from January 1, 2021. However, the American Petroleum Institute data on US commercial reserves, which fell 4.9 million barrels from a previous rise of 2.7 million barrels, are encouraging.

This morning, oil prices continue to rise smoothly: the Brent price is growing by 0.53%, and the WTI price is adding 0.58%. Today we again expect Brent prices to be $ 51-52 per barrel.

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Libertex [CPS] WW



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