Oil now
On Friday, oil quotes continued to trade lower on the possibility of aggravation in the US-China trade negotiations. Earlier, US President D. Trump announced the preservation of tariffs for Chinese goods for a significant period of time. Arguing that China may not comply with trade agreements. As a result, the market returned to pessimism about a trade war, which adversely affected stock indexes and oil prices.
Since the beginning of the European session, the main oil brands remain under the pressure on the growth of negative sentiment and the strengthening of the US dollar, eventually returning to weekly lows, which is also due to a correction. It should be noted that the overall dynamics of oil remains ascending, despite the corrective decline.
Look Technical Analysis of Oil.
Brent crude is traded at around $ 69.90, a decline of about -1.40% in price.
WTI oil is traded at around $ 59.20, a decline of about -1.30% in price.
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Dani Leviant
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