Oil now

At the trading on Tuesday, the main oil brands resumed their growth. The reason for the strengthening of oil prices, in addition to general optimism in the stock markets, was information that Saudi Arabia would reduce oil production to 9.8 million barrels per day. It is noticeably more than the required reduction under the agreement on oil production to 10.3 million barrels per day. As a result, oil quotes accelerated growth and traded near weekly highs. A deterrent for the oil market remains disappointing data on the slowdown in oil demand.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 62.80, an increase of about + 2.10% in price.

WTI crude oil trades at $ 53.40, an increase of about + 1.90% in price.

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Dani Leviant

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