Oil now

On Thursday, the main oil brands are traded with a strengthening on the correction after the decline, which was caused by data on the growth of oil and oil products in the US. In addition to technical correction, support for oil is also provided by reducing risks around the Turkish lira and trade confrontation between the US and China. So, it became known that China is ready to return to the negotiating table regarding the trade confrontation.

At the same time, oil quotations remain under the pressure of the downtrend, which is caused by the continued growth in supply. Restricting oversold and correction phase, which is maintained in the oil market.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 70.80, with an increase of about + 0.10% in price.

Oil brand WTI is trading at $ 65.00, a decline of about -0.00% in price.

 

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Dani Levitan

 

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

Topical articles of the trader’s blog:

1. Medium-term prospects for the US dollar for August-September
2. Emerging markets and their prospects: Chinese yuan (CNH or CNY)
3. Stock indices: the Japanese market

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!