Oil now

Oil quotes on Thursday traded downward after the API data on the growth of the US oil inventories. Thus, the last API report for the past week showed a significant increase in crude oil reserves by 6.5 million barrels, which, after a three-week decline, was a very negative factor for oil. An additional pressure on oil comes from concerns about a slowdown in the global economy, which also indicates a general decline in oil demand.

Technically, the main oil brands are traded in a restrained downtrend, thereby moving to a correction after growth in late 2018 and early 2019.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at around $ 60.70, a decrease of about -0.70% in price.

WTI crude oil trades at $ 52.40, a decrease of about -0.40% in price.

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Dani Leviant

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