Oil prices were largely sold on Friday, with ICE BRNT leveling at a rate of 2.68 % per day and a short -term WTI trading less than $ 70 this morning for the first time this year, commodity analysts in Engine Warren Patterson and Ewa Manthey.
President Trump OPEC+ calls for an increase in the offer
“The last weakness in the prices comes amid intense noise around the place that OPEC+ supply level Delay.
“Any delay will lead to a change in the oil balance, leaving the market more strict than we expected. No delay is likely to decrease with President Trump, who calls OPEC+ to increase the supply.”
“The latest GPS data indicates that the market morale turns into negative, as the speculators cut the positions in ICE Brent by 23,931 pieces. This left with a long shorts of 265,223 pieces starting last Tuesday. The leadership of this step is the phrase entering the market.