Oil now

On Friday trades, oil prices have accelerated the decline in maintaining the risks of increased supply and general pessimism, in addition to the weakness of oil on the increase in oil production in the world. An additional factor in the decline in oil prices was a general increase in pessimism caused by the collapse of world stock indices and the strengthening of the US dollar. The latter factor also holds oil imports due to the expensive US dollar. As a result, the main oil brands resumed its general downtrend, trading near multi-month lows.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 69.70, a decline of about -1.20% in price.

WTI crude oil trades at $ 59.70, a decline of about -1.50% in price.

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Dani Leviant

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