Oil now

At the trading on Tuesday, the main oil brands continued to grow on maintaining upward dynamics. Oil support was provided by recent statements by OPEC and non- cartel countries about intentions to continue the volume of export cuts, increasing the restriction on the volume of production that had been adopted earlier. These solutions are aimed at reducing the supply on the oil market and increasing its value.

Technically, the main oil brand remain to trade near the five-month highs, but be limited to overbought after prolonged growth. A limiting factor in the growth of oil prices may be oil reserves in the United States, for which data will be released tomorrow.

Look Technical Analysis.

Brent crude oil traded in the region of $ 67.90, an increase of about + 0.60% in price.

WTI crude oil traded in the region of $ 59.60, an increase of about + 0.40% in price.

 

Read also: “The Euro index as an auxiliary indicator”

Dani Leviant

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Prospects for Boeing shares after the planes crash
2. The US Dollar Index (DXY) as an auxiliary indicator for trading in safe haven currencies
3. 3 major mistakes of  traders-beginners

Current Investment ideas:

1. Walt Disney shares are ready for the spring growth! Earn on a ready-made investment idea!
2. Johnson & Johnson shares are growing again! Connect to an investment idea now!