Oil now

At the start of the week the main oil brands are trading with a moderate strengthening, receiving support from expectations of cuts in oil production in Iran and Venezuela, and also awaiting results from OPEC agreements to reduce oil production, which will take effect from January 2019. In addition, oil support was provided by data on the reduction of drilling activity in the United States. But despite it general dynamics of oil prices is limited by the downward trends and is trading near annual lows. This is due to the expectation of an increase in oil production in the United States and disappointing forecasts for a reduction in world oil demand.

Look Technical Analysis.

At the moment, Brent crude is trading around $ 60.50, an increase of about + 0.40% in price.

WTI crude oil trades at $ 51.50, an increase 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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