Oil now

The oil market remains very restrained on Wednesday trades. API US oil reserves data, which showed a marked decrease in US oil reserves by 5.9 million barrels, was a very significant reason for the slowdown in the decline in the oil market. EIA data, which will be released today, remains the main driver of the dynamics of the oil market.

After Saudi Arabia resumed oil exports, the oil market has maintained a steady downward trend due to increased supply, despite OPEC +’s current restrictions. Major oil brands approached lows of September 3. Their breaking will open the way to the lows of this year.

Look Technical Analysis.

Brent crude oil is trading around $ 59.10, an increase of about + 0.30% in price.

WTI crude oil is trading at around $ 54.00, an increase of about + 0.70% in price.

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Dani Leviant

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