Oil now

The oil market is restrained restoring on Wednesday after the collapse on Tuesday. The reason for the collapse in oil prices was the resumption of oil production in the Gulf of Mexico after the break due to weather conditions and data on a less significant decrease in oil reserves in a week than expected. Oil support is provided by technical correction after decline.

The overall monthly dynamics of the major oil brands remains restrainedly ascending, which indicates that the potential for growth remains, but may be limited by overbought and risks.

Look Technical Analysis.

Brent crude is traded at around $ 65.10, a rise of about + 1.10% in price.

WTI oil is traded at around $ 58.20, a rise of about + 1.00% in price.

Read also: “Oil market. Prospects and expectations”

Dani Leviant

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