Oil now
The oil market remains under the pressure on the growth of the US dollar after the US Federal Reserve meeting, which made it clear that it is not going to establish a vector for rates cuts. Amid the general strengthening of the US dollar and escalating the US-China trade tensions, oil is a very vulnerable asset, especially given the continued dynamics of declining demand and rising prices for oil imports.
Major oil brands opened Thursday trading with a restrained decline in correction after growth, despite the fundamental factors exerting pressure on oil and correction. General dynamics of the oil market remains moderately upward, limiting to July lows.
Look Technical Analysis.
Brent crude is trading around $ 64.40, a decline of about -1.00% in price.
WTI crude oil is trading around $ 57.80, a decline of about -1.30% in price.
Read also: “OPEC + Market expects
continuation of the agreement to limit production”
Dani Leviant
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