Oil (current news)

On Tuesday, the main oil brands slowed down after the yesterday’s low repulsion. The sale of oil is caused by the fears associated with the possibility of revision of the quotas for production in OPEC, for which Saudi Arabia and Russia spoke. As a result, oil retreated from annual highs.

Oil quotations are restrainedly traded in flat, thus unloading the oversold of oil. The lateral movement on oil also confirms the uncertainty of the oil market, which is exacerbated by the general negative sentiments. As a result, oil remains in uncertainty, waiting for drivers to move.

Also, see: Technical analysis of oil.

At the moment, Brent crude oil is traded at around $ 75.80, an increase of about 0.70% in price.

The WTI brand oil is traded at $ 66.90, with an increase of about 0.80% in price.

Also, read: “Stochastic Oscillator (Stochastic) – another useful indicator”

Dani Leviant