Oil is cheaper in anticipation of the Christmas holidays

Нефть дешевеет в преддверии рождественских праздников

A small decrease in quotations caused by the alignment of positions ahead of Christmas and New year

In the absence of fresh fundamental factors in the market investors gradually reduce their activity.

World oil prices are falling due to poor activity of traders as we approach the new year, according to the auction.

So, on the morning of Tuesday, December 20, futures on Brent oil fell by 0.22% to 54,85 per barrel. Futures on American WTI crude oil was trading near the mark of 51.91 dollars a barrel, which is 0.4% below the previous close.

According to traders, a small decrease in quotations caused by the alignment of positions ahead of Christmas and New year when many offices are closed. Analysts noted that they do not expect active trading this week as factors that could push the oil price up.

“As expected few new factors, prices (oil – ed.) are likely to fluctuate during today’s trading session,” analysts said ANZ Bank.

We will remind, on December 12, the price of oil Brent for the first time from July 2015 has exceeded $ 57 per barrel.

Fluctuations in oil prices

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According to the materials:

Reuters
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