Oil now

The oil market opened a new week with a restrained decline. The reason for this was the risk of an aggravation of the US-China trade war. The impetus for the growth of pessimism was made by statements by the US President D. Trump about the risk of disruption of the US – China trade talks in September. As a result, the oil market remains under the pressure in anticipation of a slowdown in the global economy.

Major oil brands are trading lower after Friday’s growth, virtually maintaining a downward trend, limiting to the highs of last Friday. Significant support was located at the lows of Wednesday and Thursday of the past week.

Look Technical Analysis.

Brent crude oil is trading around $ 58.20, a decline of about -0.50% in price.

WTI crude oil is trading around $ 54.20, a decline of about -0.50% in price.

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Dani Leviant

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

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