Oil now

On Thursday, the oil market remains restrained by maintaining uncertainty around the US-Chinese trade talks and maintaining a high level of supply from major global producers. Also, pessimism remains on the oil market due to a decrease in global consumption, which is due to a slowdown in the global economy.

The main oil brands on uncertainties and risks retreated from semi-annual lows, limiting themselves to supporting this August lows. Significant resistance for the lateral dynamics of oil are the highs of October.

Look Technical Analysis.

Brent crude oil is trading around $ 58.50, an increase of about + 0.30% in price.

WTI crude oil is trading at around $ 52.70, an increase of about + 0.30% in price.

Read also: “USD/JPY outlook for early July”

Dani Leviant

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

Topical articles of the trader’s blog:

1. Cloudy prospects for the  oil market 
2. Risks of global economic slowdown are escalating
3. What indicators choose Forex traders (Part 2)

Current Investment ideas:

1. One more opportunity to earn in October! Sell ​​#CAT shares now!
2. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!
3. Technology giant Microsoft is getting ready to storm new highs! Let’s make money on it!