Oil now

Oil quotes on Thursday show a restrained positive dynamics, after the decline yesterday. Support for oil quotes is provided by technical correction, risk reduction and the expectation of a sanction against Iran. The main risk factor for oil, after a decline in the resumption of production in the Gulf of Mexico, remains the US and China trade confrontation over the new duties of $ 200 billion, on what China is ready to respond with similar actions. At the same time, the oil market shifted attention to on oil inventories data in the US, and thus moved to correction after the decline. This also indicates a shift in priorities in the market.

Look Technical Analysis of Oil.

At the moment, Brent crude oil is trading around $ 77.50, an increase of about + 0.40% in price.

WTI oil is trading at $ 68.90, with an increase of about + 0.15% in price.

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Dani Levitan

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