Oil now

Major oil quotes are trading near monthly highs on market optimism, associated with positive expectations that the United States and China will be able to reach an agreements on trade relations. It is also worth noting the unexpected data on oil inventories in the United States, which are reduced the next consecutive week, helping to strengthen the cost of oil.

Technically, the main oil brands are in the zone of initial correction after a general decline at the end of last year. Significant resistance in the further growth of oil is the high of December 2018.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 59.80, an increase of about + 1.80% in price.

WTI crude oil trades at $ 50.80, an increase of about + 2.00% in price.

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Dani Leviant

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