Oil now

Oil quotes remain under the pressure after EIA data on the US oil reserves, which showed a significant increase in the US crude oil inventories by 9.9 million barrels for the week. The reason for such a significant increase in reserves was an increase in production to a record level of 12.3 million barrels per day. As a result, this has heightened the market’s concerns over the growth of supply. At the same time, factors supporting oil prices, a decline in OPEC and the US sanctions against Iran and Venezuela faded into the background. As a result, oil is trading near weekly highs, limited to April lows.

Look Technical Analysis.

Brent crude is trading at $ 71.20, a decline of about -1.30% in price.

WTI oil is traded at about $ 62.70, a decline of about -1.40% in price.

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Dani Leviant

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Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. Stock Indices: Storming Historic Highs
2. Sanctions against Iran, their aggravation and impact on the world market
3. Multifactorial analysis of the Forex market

Current Investment ideas:

1. CAT shares give SUPER-opportunity to earn in April!