Oil now

At the trading on Thursday, the main oil brands resumed their decline after a rapid growth on Wednesday. Earlier, the reason for a significant increase in oil was the growth of optimism in the stock markets and the technical correction, which was intensified by low trading volumes. As a result, the major oil brands  managed to retreat from annual lows.

But general dynamics of oil continues to decline despite attempts of correction. And concerns about a decline in global oil demand will continue to be confirmed. In fact, this indicates a resumption of lower oil prices. The growth of pessimism in the conditions of reduced trading volumes, which remain in the market, indicate a resumption of decline and a return to annual lows.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at around $ 54.00, a decrease of about -2.20% in price.

WTI crude oil trades at $ 45.60, a decrease of about -2.00% in the price.

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Dani Leviant

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