Oil now
At the end of the week, the main oil brands resumed their growth on the correction and fundamental factors. So, earlier OPEC and non-cartel countries hinted that oil production would continue to decline. Additional oil support was provided by data on stopping preferential oil supplies from Iran to Japan. This actually indicates a tightening of sanctions against Iran. In addition to data on the reduction of oil exports, oil quotes support is provided by data on new the US-China trade negotiations. Thus, data on the progress of negotiations have a growing optimism in the market, and increase the demand for risk-takers are active.
Despite a significant increase, the main oil brands continue to be limited to monthly highs, which, in turn, continue to be a significant resistance to a more significant increase in the cost of oil.
Look Technical Analysis of Oil.
Brent crude oil traded in the region of $ 67.70, an increase of about + 1.00% in price.
WTI oil is traded at around $ 60.00, a rise of about + 1.20% in price.
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Dani Leviant
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