Oil now

The main oil brands on Thursday trades show multidirectional dynamics after growth on the API data to reduce oil reserves for the week by more than 5 million barrels. In the face of declining oil supplies from OPEC, this has become a significant driver for strengthening the oil market. But, despite optimistic expectations, official data from EIA will be released today. While waiting for this statistics, the oil market has moved to a correction and largely depends on the general mood. Since the market remains uncertain, until the publication of the EIA report, ambiguous dynamics will remain.

The overall dynamics of the main oil brands will be limited to the weekly side channel. On a larger time scale, oil quotes maintain a downward trend, limited to oversold.

Look Technical Analysis.

Brent crude oil is traded in the region of $ 67.50, a decrease of about -0.50% in price.

WTI crude oil is traded in the region of $ 58.90, an increase of about + 0.20% in price.

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Dani Leviant

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