Oil now
The main oil brands are trading very restrained on Wednesday, remaining in the trading range on Tuesday. The restraint of the oil market is due to API data on the US oil inventories, which showed a significant growth in the increase in crude oil reserves. This increased market fears before the publication of EIA datas ignificantly.
Technically, the main oil brands remain limited to weekly lateral dynamics, which ultimately indicates a growing uncertainty in the oil market and the possibility of a slowdown in the overall increase in oil prices from the start of the year.
Look Technical Analysis of Oil.
Brent crude is trading at $ 65.60, a decrease of about -0.30% in price.
WTI crude oil traded around $ 56.00, a decrease of about -0.60% in price.
Read also: “Singapore Dollar. Features of trade “
Dani Leviant
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