Oil now
On Wednesday, oil quotations are traded near the opening day, receiving support from data on the reduction of oil reserves in the US and waiting for data on sanctions against Iran. Previously, according to the API oil reserves in the US continued to decline for the next week in a row, which also was due to interruptions in supplies from Canada. At the same time, these news has had a short support for the oil market.
The oil market continues to monitor sanctions against Iran, which doesn’t hurry to active introducing themselves to preserve the supply deficit, which ultimately can slow down the growth of oil prices.
Look Technical Analysis of Oil.
At the moment, Brent crude oil is trading around $ 77.90, with an increase of about + 0.10% in price.
WTI oil is trading at $ 73.80, a decline of about -0.40% in price.
Read also: “What for the oil market is waiting after increasing quotas for oil production in OPEC?”
Dani Levitan