Oil now

At the start of the week, oil quotes traded positively on the expectation of the introduction of sanctions against Iran and the growth of optimism in the market. The reason for the aggravation of optimism about oil was the message of US Treasury Secretary Stephen Mnuchin, who said that the relief from sanctions would be harder to get than it was before, which ultimately became a driver for the growth of optimism on oil while waiting for the imposition of sanctions against Iran.

At the same time, oil remains in a downtrend, showing growth from time to time. The reason for the decline in oil prices is the increase in supply on the oil market from the United States and OPEC, which increase production volumes as part of reducing the deficit amid sanctions.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 79.90, an increase of about + 0.20% in price.

WTI crude oil trades at $ 69.30, an increase of about + 0.20% 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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