Oil now

On Wednesday, the main oil brands are traded with a slight decrease, limited to API data on the growth of the US oil reserves and the risks around the restriction of supply supply. So, earlier, the reason for the increase in the cost of oil were the risks of reducing supplies from Venezuela and Iran. The aggravation of the political situation in Venezuela and the tightening of sanctions against Iran are factors limiting supply in the oil market. On the other hand, the United States continues to actively increase production actively, campaigning for a similar decision of OPEC members and in particular Saudi Arabia.

The dynamics of the oil market and the market in general remain limited by low trading volumes from the start of the day and lateral dynamics during the week. The growth of activity should be expected in the second half of the day on the resumption of trading volumes and the publication EIA data on oil inventories.

Look Technical Analysis.

Brent crude is traded at around $ 72.20, a rise of about + 0.20% in price.

WTI crude oil is traded in the region of $ 63.70, a decrease of about -0.30% in price.

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Dani Leviant

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

Topical articles of the trader’s blog:

1. Sanctions against Iran, their aggravation and impact on the world market
2. Multifactorial analysis of the Forex market
3. Expectations from the USD/JPY for the end of April – early May

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1. CAT shares give SUPER-opportunity to earn in April!