Oil now

At the trading on Thursday, oil quotations are traded with a strengthening on the correction after the decline. The reason for the sale of oil was data on the resumption of oil exports from Libya and the possibility of reviewing US sanctions against Iran. As a result, the oil market has a downward mood.

At the beginning of the day, support for oil, in addition to technical correction, is provided by data on oil reserves in the United States according to the EIA, which showed the largest reduction in oil reserves since September 2016.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 74.20, a decline of about + 1.10% in price.

WTI oil is trading at $ 70.80, a decline of about + 0.60% in price.

Read also: “MACD indicator – a reliable tool for technical analysis”

Dani Levitan

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