Oil now
At the start of the week, the main oil brands are traded near the opening of the week level, showing restraint, despite the decline in oil production in OPEC and optimism regarding the trade standoff between the United States and China. The dynamics of oil at the moment depends mostly on the general mood that it set by the stock markets. It is also worth noting the low activity at the beginning of the week and a day off in the US, that is why the activity in the oil market can be reduced.
Technically, the main oil brands remain near the monthly highs, trading in the flat, which may further indicate both a correction after growth and the possibility of further strengthening, as well as a slowdown of the upward dynamics before the turn. The main driver of oil are data on supply and global demand, the biggest share of which falls on China.
Look Technical Analysis of Oil.
At the moment, Brent crude is trading at $ 62.80, an increase of about + 0.10% in price.
WTI crude oil trades at $ 54.10, a decline of about -0.10% in price.
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Dani Leviant
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