In the oil market, buyers are ready to test the $ 77.50 level

On Wednesday, December 8, Brent crude rose in price by 1.15% to $ 75.98 as a result of trading. The oil price reached its highest level in two weeks. Buyers received support on news that the Omicron variant of the coronavirus will be weaker than previous strains, will not have a devastating impact on the global economy and will not reduce energy demand.

According to the data provided by the US Department of Energy, oil reserves in the country last week decreased by 241 thousand barrels, to 432.87 million barrels (the forecast was -1.52 million barrels).

Oil production in the United States increased by 100 thousand barrels per day, to 11.7 million barrels per day.

On Thursday, December 9, at trading in Asia, Brent crude oil costs $ 76.59 (+ 0.75%) per barrel. The price is approaching the resistance of $ 77 per barrel. Buyers are a little late with their growth. The longer the price returns to the $ 77 level, the more likely it is to stay trading in a wide range of $ 68.50-77.50. We expect a test of the $ 77.50 level.