Yesterday prices for crude oil dropped, resulting from investors’ expectations of new fata about stocks of fuel in the USA. According to analytics, prices are not supposed to rise in the nearest future, as supply considerably exceeds demand.
According to the results of the trading session on October 2nd, November future for WTI crude oil has lost 0.59 dollar or 0.6 percent at New York exchange NYMEX, having amounted to 91.89 dollar per barrel. November contract for Brent crude oil at London exchange ICE has dropped by 0.62 dollar or 0.6 percent – to 111.57 dollars per barrel.
Today, on October 3rd, crude oil keeps being traded negatively. At New York exchange WTI crude oil has dropped by 0.26 dollar, having amounted to 91.63 dollar per barrel; at London exchange Brent crude oil has dropped by 0.51 dollar – to 111.06 dollars per barrel.
At present crude oil future is expected to develop a rapid uptrend with price rise within wave 3 of [iii], which will be proved by breaking the strong point of 93.40. Correction within wave [b] will be formed if the structure fails to grow; this is supposed to be followed by update of local low 91.20.
