Oil now - Ester Holdings

Oil now

Major oil brands on Wednesday show a moderate decline after growth earlier. On Tuesday, the oil market and commodity assets received significant support on the US trade and data on trade talks in the coming weeks. At the trading on Wednesday, the oil market is showing a decline on the correction after growth and waiting for data on oil inventories in the United States. So, earlier, according to API data, the US crude oil inventories showed a less significant decrease. A week earlier, according to the EIA, on the contrary – increased for the first time in seven weeks.

Amid pessimistic expectations from stocks of oil and petroleum products in the United States and the resumption of pessimism in the market due to weak data on industrial production in China, major oil brands remain under the pressure of correction, limiting themselves to the upward trend and highs on Tuesday.

Look Technical Analysis.

Brent crude oil is trading around $ 60.50, a decrease of about -1.30% in price.


WTI crude oil is trading at around $ 56.20, a decline of about -1.60% in price.


Read also: “Oil market: correction or growth limit”

Dani Leviant


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