Oil now

The oil market on Thursday trades accelerated the growth on the correction after the decline the day before. The high volatility of the oil market, after attacks on oil refineries in Saudi Arabia, is gradually decreasing, returning the oil market to normal. Major oil brands are in no hurry to decline to the level of closing last week despite the promises of Saudi Arabia to restore exports quickly. Doubts about the resumption of exports and growing tension in the Middle East remain an occasion limiting the decline in oil prices. So, the US willingness to tighten sanctions against Iran may provide an additional support to the oil market.

Major oil brands remain under the pressure of correction after growth at the start of the week, limiting to September 18 highs, the break of which, in turn, will indicate an upward trend, but will be probably limited by lateral dynamics.

Look Technical Analysis.

Brent crude oil is trading around $ 64.80, an increase of about + 1.90% in price.

WTI crude oil is trading around $ 58.90, an increase of about + 1.50% in price.

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Dani Leviant

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

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