18.02 - oil is nearing 3-months-high
- by Anna K.
Supply is the main engine in the prices for oil. And the relationship between the two cannot be named happy. As soon as supply numbers are touched, the prices immediately change. The less oil there is in the markets, the higher are the prices; the more oil there is, the lower are the prices. And right now the supply is being lowered which means that there is less oil in the markets today that there was last week.
Today the prices for oil are facing the growth that can bring the commodity to the highest level in 3 months. In this 3-months graph we can see that 3 months ago the price for the American crude neared $57.5 price point. And with the current price of $55.99 it is not far from getting to the old point.
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