Oil now

The main oil brands are trading with a strengthening at the start of this week on a report on a decrease in drilling activity in the US and data on production decline in Saudi Arabia. It is reported that Saudi Arabia in April is going to reduce production volumes, lowering the daily volume below the level of 10 million barrels per day. Previously, the Saudis have reduced production volumes by 500 thousand barrels per day.

As a result, oil received a significant support to strengthen on the overall growth of optimism and the weakening of the US currency. It is also worth noting that the main oil brands of oil are limited to weekly highs and a downward trend of recent times. As a result, this may indicate the possibility of a new wave of oil sales.

Look Technical Analysis of Oil.

Brent crude oil traded in the region of $ 66.30, an increase of about + 0.80% in price.

WTI oil is traded at about $ 56.50, an increase of about + 0.80% in price.

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Dani Leviant

 

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