Oil now

With the opening of the new trading week, oil showed a significant increase, after which it returned to the opening level of the day. The reason for the rising cost of oil was a political scandal with the disappearance of the journalist Jamal Khashoggi at the Embassy of Saudi Arabia in Turkey. As a result, Saudi Arabia keenly took critique and threatened to respond toughly to any threats, which greatly aggravated relations with the United States, and as a result questioned promises to increase oil production. If the Saudis refuse to increase oil production within the framework of the Iranian supply compensation, oil is likely to resume its overall upward trend.

Look  Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 80.30, an increase of about + 0.90% in price.

WTI crude oil trades at $ 71.80, an increase of about + 0.40% in price.

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Dani Leviant

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

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