Oil prices are under pressure since the worries over the possibility of a US0led military operation in Syria is getting less probable. This gave investors an opportunity to reduce exposure in the market of crude oil.
The Brent futures contract of October delivery (ICE Futures, London) is down by 0,68%. It is currently trading around $115,82 per barrel. At the same time, the WTI futures contract of October delivery (New York) is down by 0,68%. It is currently trading around $109,35 per barrel.
Apart from the Syrian issue, investors are considering last week’s US oil stocks. The stock gained 2,99 million barrels during the reporting period.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of WTI oil:
