Oil now
The main oil brands are traded on Tuesday at the opening of the day after the highs update. The reason for the multidirectional dynamics of oil is the lack of clear drivers for movement. Yesterday’s growth caused by optimism, contributes to a decrease in the correction. Overall oil sentiment remains upward, thanks to a reduction in OPEC exports and sanctions against Iran and Venezuela.
Data on oil reserves in the US from API and EIA can make a significant driver for the movement in the oil market. Expectations from these reports remain largely positive. So, after a moderate correction on the support of statistics, a new wave of rising oil prices is possible.
Look Technical Analysis.
Brent crude is trading at around $ 69.00, a rise of about + 0.00% in price.
WTI oil is traded at around $ 61.90, a rise of about + 0.50% in price.
Read also: “Prospects for the oil market. What to expect ?!”
Dani Leviant
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- World central banks are preparing for lower rates
- Financial quarter correction
- Prospects for the euro based on the ECB policy
Current Investment ideas: