Oil now

Oil quotes are rising following a decrease in risks and information about   US – China negotiation. At the same time, the risks regarding the results of these negotiations remain significant. The actual driver of oil growth remains sanctions against Iran and the growth of optimism in the market.

Technically, the correction of oil after the reduction is limited to weekly extremes and technical correction of positions before the weekend. Therefore, more significant movements today can only trigger data on drilling activity in the United States.

Look Technical Analysis of Oil

At the moment, Brent crude is trading around $ 72.20, an increase of about + 1.10% in price.

WTI oil is trading at $ 65.80, with an increase of about + 0.60% in price.

Read also: “Analysis of cross-rates in relations to major currency pairs”

Dani Levitan

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

Topical articles of the trader’s blog:

1. Medium-term prospects for the US dollar for August-September
2. Emerging markets and their prospects: Chinese yuan (CNH or CNY)
3. Stock indices: the Japanese market

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!