Oil now

The oil market at trading on Monday is traded with a moderate growth, while limiting itself to recent highs and trading ranges. The reason for the strengthening of the price of oil is optimism regarding a reduction in oil supply and the data from Saudi Arabia regarding the change of the Minister of Energy to one of the sons of the King of Saudi Arabia. It should accelerate the decline in supply levels and the strengthening of oil prices.

General dynamics of the oil market, despite attempts of growth, remains limited. In the face of a decline in optimism, this may cause a moderate correction after growth.

Look Technical Analysis.

Brent crude oil is trading around $ 62.10, an increase of about + 0.90% in price.

WTI crude oil is trading around $ 57.30, an increase of about + 1.50% in price.

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Dani Leviant

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