Oil now

On Wednesday, oil remains to trade lower after fears of a storm in the Gulf of Mexico were exaggerated. At the same time, the oil of the main brands is trading significantly lower than the opening of Tuesday, indicating oversold, even considering the decrease in weather risks. An additional factor in the reduction of oil may be a general negative mood. On the other hand, the expectation of sanctions against Iran continues to provide restrained support for oil.

As a result, oil keeps corrective dynamics to decrease, but is limited to oversold, which may serve as an occasion for renewal of growth.

Look Technical Analysis of Oil.

At the moment, Brent crude oil is trading around $ 77.40, a decline of about -1.00% in price.

WTI oil is trading at $ 68.90, a decline of about -1.30% in price.

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Dani Levitan

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

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