Oil now

On Thursday, the main oil brands are traded at the opening of the day level, despite the persistence of pessimistic sentiment on the stock markets and the preservation of concerns about the slowdown of the global economy. A constraining factor for the oil market is also the growth of oil production in the United States and the decline in demand from China, which will significantly strengthen the pessimism on the expectation of data on the US oil inventories.

General dynamics of oil remains negatively restrained, limited to the side channel and the lows of 2018. At the same time, oil restraint is regarded as a correction after a decline, which indicates the preservation of the potential for decline, which is limited by the existing dynamics.

Look  Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 54.90, a decrease of about -0.10% in price.

WTI crude oil trades at $ 46.20, a decline of about -0.70% in price.

Read also: “The US economy continues its growth, confirming the rates hike policy”

Dani Leviant

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