Oil is trading higher
This morning, New York crude oil futures WTI rose by 0.90% to $ 50.31 per barrel. At the same time, crude oil futures for Brent rose by 0.71% to $ 51.00 per barrel. Thus, the black gold is gaining, amid the the reduction of commercial stocks in the US. Investors also expect a recovery of production in Nigeria and Canada. There is a high probability of decline in oil inventories in the US market, although the reserves are at record highs, and drilling volumes began to grow again.