Oil now

The oil market remains under the pressure to reduce optimism about the soon conclude of the U.S. – China trade deal. In the face of the possibility of exacerbating tensions in the trade confrontation, despite encouraging promises, they did not lead anywhere. The oil market remains under a significant pressure, as signs of supply growth in conditions of reduced demand persist.

The main oil brands remain restrained upward dynamics of October, limiting from below to the lows of November 8 and 1. Restraint and attempts to reduce to a greater extent indicate a slowdown in upward dynamics and the formation of a downward reversal.

Look Technical Analysis.

Brent crude is trading around $ 61.60, a decline of about -0.70% in price.

WTI crude oil is trading around $ 56.60, a decline of about -0.40% in price.

Read also: “The ECB is preparing a stimulus package”

Dani Leviant

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

Topical articles of the trader’s blog:

1. The U.S.-China trade agreement news
2. The trade war risks are coming back
3. Upward dynamics of gold, resumption of growth or correction before the decline

Current Investment ideas:

1. Several reasons to buy Cisco Systems, Inc. shares in October. Let’s earn Together!