Oil now

At Thursday’s trades, major oil brands show a decline. The reason for the weakening of the oil market are signs of a recession in the global economy, which have been aggravated by the risks of an aggravation of the US-China trade war. In addition to lower demand for a slowdown in the global economy, data on the US oil reserves, which started to grow after a long decline, cause concern.

Thus, the main oil brands, despite the increased market volatility on risks and a decline in recent days, maintain a weekly upward trend. She may be in doubt at breaking through the opening level of the day on August 12. For Brent level: 58.00, for WTI: 54.00.

Look Technical Analysis.

Brent crude oil is trading around $ 58.20, a decrease of about -2.20% in price.

WTI crude oil is trading at around $ 54.20, a decline of about -1.80% 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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