Oil now

Since the start of the day, oil quotations have been trading lower on the background of correction after growth, which was caused by a reduction in crude oil inventories in the US and the introduction of new mutual duties of China and the United States. Today, the new US duties on Chinese goods come into force for a sum of $ 16 billion, which China is going to respond with similar measures.

As a result, oil, like most risk assets, remains under pressure from the risks of trade confrontation, which, despite the negotiations, is heating up, putting pressure on the world market. As a result, oil will retain corrective movement, remaining under pressure of risks.

Look Technical Analysis of Oil.

At the moment, Brent crude oil is trading around $ 74.30, a decline of about-0.60% in price.

WTI oil is trading at $ 67.70, rising about -0.20% in price.

Read also: “Market analysis: undervalued and overvalued shares”

Dani Levitan

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

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