Oil prices of Brent were marked by strong growth in the last twenty-four hours after it became known that the armed forces of Saudi Arabia launched a military operation against the rebels in Yemen. Although the country is not a major oil producer (accounting for about 0.1% of world production), it has a strategic geographical position.
Yemen controls the Bab-el-Mandeb, through which in 2013 held daily 3.8 million barrels of oil and through which ships enter the Suez Canal. A significant destabilization of the situation can significantly complicate the transportation of oil from the Middle East. Against this background, quotes can generate an impulse towards the annual highs. Looking for opportunities for shopping.
Support and resistance levels
Support 1 56,35
Support 2 54,85
Current price: 57,98
Resistance 1 58,45
Resistance 2 59,75
Warning: Profitability in the past does not mean profitability in the future. Any projections are for informational purposes only and do not guarantee the results obtained.