Oil now

At the Friday trading, the main oil brands continue to trade lower on corrections and on the fact that OPEC is ready to cut off the shortage in the oil market, which was formed after the exacerbation of the US sanctions against Iran. Despite the reduction in risks of a growing deficit in the oil market due to the share of Iran, the decline in oil prices remains restrained due to possible geopolitical risks. First of all, due to the statements of Iran by force to cut off exports from the Persian Gulf. Also worth noting is the significant cost of oil, which is also limited by significant levels of resistance. The same levels that supported in 2018.

Look Technical Analysis of Oil.

Brent crude is traded at around $ 73.20, a decline of about -1.60% in price.

WTI oil is traded at around $ 64.20, a decline of about -1.6% in price.

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Dani Leviant

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