Oil Recovers

marketsforu

The OPEC meeting in Vienna seems to be the most important events for the oil prices this week. According to the tentative programme, the group decision will be announced at 4 pm CET during the press conference. Iranian oil minister said he odes not expect any major decision to be taken this Friday. However we may face some increased volatility coming into the week, also stemming from other risk factors as ECB meeting or US payrolls data.
Today oil is slightly recovering its recent losses, both WTI and Brent are gaining over 1% on a daily basis.