Oil now

Major oil brands on Wednesday are traded with a strengthening after a decline on Trump’s comments. The API data on US oil inventories which showed a significant reduction in US oil reserves for the week by more than 4 million barrels was the driver for the growth of optimism in the oil market, despite the weak dynamics of stock indices. It increased significantly investor optimism before the EIA report, which will be released today.

Technically, the main oil brands are returning to the upward trend, which can be traced from the start of the year. At the same time, the oil market largely depends on the policy and possible speculations.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 66.30, an increase of about + 1.50% in price.

WTI crude oil trades at $ 56.60, an increase of about + 1.90% in price.

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Dani Leviant

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