Oil now

Oil was under pressure, despite optimistic API data on reducing oil inventories in the US and reducing oil exports from Iran. The reason for the decline in oil prices was a correction, triggered by increased fears and a negative start to the stock markets in Europe.

As a result, oil quotes almost after a week’s growth were under pressure, confirming the monthly downtrend. Also, correction of positions on oil is caused by profit taking before the publication of EIA data on oil inventories in the US, that will be released today.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 74.20, a decline of about-0.50% in price.

Oil brand WTI is trading at $ 68.70, a decline of about-0.60% in price.

Read also: “Trading on the news! Let’s consider in detail »

Dani Levitan

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

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