Oil now
The main oil brands after it became known that the reserves of crude oil in the United States grew, stocks of petroleum products reduced significantly. The market chose to focus on the negative aspect of the report, in fact completely ignoring the decline in gasoline and distillate stocks in the United States. The main factor of this movement in the market is seasonal factor. In this period of time, most refineries go to technical prevention, which reduces the demand for oil.
It is also worth noting the technical correction of oil after growth in early March. As a result, the main oil brands are traded within the past week, limited to Monday’s lows and recent highs.
Look Technical Analysis of oil.
Brent crude oil traded in the region of $ 66.70, a decrease of about -0.70% in price.
WTI oil is traded at about $ 58.90, a decrease of about -0.70% in price.
Read also: “Interest rate. Analysis of changes in interest rates based on economic indicators “
Dani Leviant
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