Oil today: oil resumes growth
On Tuesday, oil prices resumed growth, after a short correction. The strengthening of oil prices was caused by the resumption of fears about the situation in the Middle East, namely, data on the possibility of exacerbation of relations between Saudi Arabia Shiite movement “Ansar Alla”. The support for oil is also provided by the possibility of applying sanctions from Iran, on the part of the United States. As a result, oil continues to maintain an upward trend, despite the growth of drilling activity in the US and the strengthening of the US currency.
Recommended for reading: Technical analysis of oil and not only.
- The nearest resistance levels (signals to sell oil): for WTI – 69.50 and $ 70.00 per barrel, for Brent -75.50 and $ 76.00 per barrel.
- Support for the mark (signals to buy oil): for WTI – 68.00 and 67.00 $ per barrel, for Brent – 74.00 and 73.00 $ per barrel.
Hanzenko Anton