Oil now

The oil market on Thursday maintains restrained lateral dynamics. After the main oil brands reached a monthly value and came close to an annual low. In addition to resuming supply from Saudi Arabia, general signs of a slowdown in the global economy put the pressure on the oil market. In the future, this will lead to a decrease in consumption.

As a result, major oil brands are trading restrained near current lows, limiting themselves to oversold and significant support, maintaining a downward trend, the preservation of which will indicate a further decline.

Read Technical Analysis.

Brent crude oil is trading around $ 57.70, an increase of about + 0.00% in price.

WTI crude oil is trading around $ 52.60, an increase of about + 0.00% in price.

Read also: “U.S. Trade Opposition. What are the risks? ”

Dani Leviant

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