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An analyst from the company ForexMart (Forexport)

MQL5: Blogs Traders 06.02.2020 at 12:32

Blogs traders and analyst of financial markets

Brent. 06.02. The oil under the pressure of external factors

Oil prices remain highly volatile in the range of $53,80-56,50 per barrel. The current price of Brent – $of 55.15. The restoration of interest of investors to risky assets supporting the "black gold", however, the theme of Chinese coronavirus is still the main driver of changes in oil prices.

Today China has said it is ready to halve duties on imports from the United States, which supported the dollar and reduced the position of Brent.

it Should be noted that an emergency meeting of OPEC technical Committee+ on Tuesday and Wednesday has not led to a consensus on which recommendations to give the OPEC countries with a likely slowdown in demand for oil due to the situation in China. Saudi Arabia is in favour of further reduction of oil production by 0.5 million barrels per day, while Russia is only at the renewal of the current deal.