Oil now

Oil quotes remain under pressure from fears of a slowdown in the global economy. The reason for the growth of pessimism in the oil market and the markets in general was the data on the slowdown in China’s GDP growth and the data of the International Monetary Fund (IMF) on lowering the forecasts for global economic growth for the current year. In general, this led to the investors flight from risks and the reduction in the cost of raw materials.

As a result, the main oil brands were under significant pressure and corrective movement after growth. But oil remains near two-month highs, which act as significant resistance on the verge of restarting oil growth.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 61.50, a decline of about -1.90% in price.

WTI crude oil trades at $ 53.00, a decline of about -1.80% 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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