Oil now

Oil quotes are traded slightly above zero, despite the overall decline in the value of the dollar. The restraint of the oil market is connected with the expectation of the introduction of the November sanctions against Iran and the growth of the supply from the United States. At the same time, China is in no hurry to turn up on Iranian oil because of trade confrontation with the United States. This may in the long term reduce the effect of US sanctions and cause an aggravation of geopolitical confrontation.

In the short term, oil continues to trade with restraint, maintaining a common downward trend, confining itself to the trading range of Friday and Monday.

Look Technical Analysis of Oil.

At the moment, Brent crude oil trades around $ 72.30, an increase of about + 0.20% in price.

WTI oil is trading at $ 65.40, rising about + 0.00% in price.

Read also: “In Focus: Analysis of transactions for a EUR/USD pair during the week”

Dani Levitan

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

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