Oil now

From the beginning of the day, oil prices have been trading in positive territory, but they are gradually reducing their growth in maintaining risks. The driver of the increase in oil prices was the resumption of optimism in the stock markets, which brought buyers back to risky assets and commodity currencies. At the same time, the general news background remains more negative. The latest API data, which showed an increase in oil inventories of 7 million barrels, heightened market concerns.

As a result, major crude oil are traded above the opening of the day level, limited to waiting for data on US oil inventories from the EIA. At the same time, the growth of optimism, which stimulated the strengthening of oil, is not so sure that it may indicate the possibility of correction. The dynamics of oil remains low, limited to the trading range of recent days.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 53.60, an increase of about + 1.60% in price.

WTI crude oil trades at $ 45.60, an increase of about + 2.20% in price.

Read also: “Chicago Board Options Exchange (abbr. CBOE)”

Dani Leviant

Earn with the help of the trade service on the news Erste News!

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