Oil now

On Thursday, the main oil brands are traded at the opening of the day level, showing multidirectional dynamics and maintaining the lateral dynamics of the last days. Despite the technical capacity to strengthen, the main oil brands are limited by restraint of the global economy. A new driver for the growth of oil may be the growth of optimism around the global economy, which will be facilitated by the conclusion of trade agreements between the US and China.

In addition to general optimism about the world economy, oil is supported by a reduction in exports from OPEC and Venezuela. The growth of oil in the short term may limit the data on US oil inventories, which will be released today. Previously published data from the API, indicating a noticeable increase in oil reserves for the week in the US.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at around $ 67.00, a decrease of about -0.10% in price.

WTI crude oil trades at $ 57.20, an increase of about + 0.10% in price.

Read also: “VSA: bullish and bearish volumes; signs of strength and weakness in the market “

Dani Leviant

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