Oil, much higher?

The price of black gold has updated a three-month high amid a reduction in US stocks of raw materials, reported by the country’s Department of Energy. At the same time, traders were eager to see the opposite trend, because a day earlier the American Petroleum Institute announced an increase in reserves of more than 4 million barrels.

To a large extent, rising oil prices were also helped by positive comments on the course of negotiations on a US-China trade deal. However, the agreement remains unsigned, which creates the preconditions for the correction of the value of black gold.