Oil now - Ester Holdings

Oil now

Oil prices accelerated the growth after the International Energy Agency (IEA) reported that the forecast for growth in demand this year at 1.4 million barrels per day was maintained. Also in this report, there was talk of reducing the demand for oil, which was actually ignored by the oil market amid falling supplies from OPEC, in particular from Venezuela.

The main oil brands continue to trade with the strengthening, while maintaining a restrained upward trend. The exception was the Brent brand after it broke through the psychological mark of 63.00, actually speeding up the monthly uptrend. But it is worth noting the overbought nature of commodity assets and their significant dependence on positive market sentiment, which persist for the second day in a row.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 63.40, an increase of about + 1.60% in price.


WTI crude oil trades at $ 53.80, an increase of about + 1.30% in price.


Read also: “Long-term investments in currency pairs! The EUR/JPY pair!”

Dani Leviant

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