Oil now

At the start of the week the main oil brands are traded with a decrease, despite attempts to correct and reduce risks. The oil market maintains a general downtrend, relying on fundamental factors such as the growth of the US oil reserves and the expectation of an increase in supply in the market, which, in turn, is associated with an increase in production volumes and a decrease in demand due to the US and China trade confrontation.

Closer to the middle of the day, oil recovered some of the losses at the opening of the week, which was caused by the recovery of optimism in the market. It is worth noting that general downtrend of the main oil brands remains in force. The highs of last week are significant resistance, confirming the downward trend.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 77.70, an increase of about + 0.00% in price.

WTI crude oil trades at $ 67.50, a decrease of about -0.10% 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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