
What's moving markets on April 22? Read the report to know!
However, a weekend tweet shocked the oil society.
Mr. Trump asked Saudi Arabia to increase the amount of oil it produces. And according to him, the Saudi King Salman agreed. However, Saudi media hasn’t confirmed a willingness of Saudi to produce more. Oil reacted to this news. The greater production will lead to lower prices. As a result, both oil benchmarks reacted negatively.
On Friday, Brent managed to climb to $79.70. But Monday trading appeared to be weak. Brent is trading near $78.50. No important data will be released today, as a result, there are risks of the fall to the support at $77.55. If there is some positive news for the oil market, Brent will be able to rise to $79.85.
WTI is weaker than it was on Friday as well. WTI is trading near $73.85. Positive news will pull the benchmark up. The resistance is at $76.60. Otherwise, it will turn around to the support at $72.15.
That’s all for today! Follow market news with FBS!
What's moving markets on April 22? Read the report to know!
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