Oil now

The oil market has been trading with a moderate strengthening from the start of the day after a rapid growth yesterday. Previously, the oil market was supported by the API data, which indicated a decrease in US crude oil inventories and an expectation of a decrease in US rates. The restraint of trading on Wednesday is due to the expectation of data on US oil reserves from the EIA and data on US interest rates.

Major oil brands retreated from monthly lows, maintaining a restrained upward momentum in recent months. This indicates the potential for growth in the oil market, after a moderate correction.

Look Technical Analysis.

Brent crude is traded at around $ 65.10, a rise of about + 0.70% in price.

WTI oil is traded at about $ 58.50, an increase of about + 0.80% in price.

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Dani Leviant

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