Oil now

The oil market remains under the pressure after crude oil reserves have sharply increased in the United States over the past week, according to API data, indicating the possibility of an increase in supply in the oil market. Official data on oil reserves in the United States will be released today. Also, pressure on the oil market was exerted by data on the possibility of reducing tension in the Middle East. After the representative of Saudi Arabia announced that they would try to avoid a military conflict between the United States and Iran.

Against the background of the current situation, the main oil brands were under the pressure, limited to weekly lows. Also, investors have chosen to reduce the position of oil pending data on the United States and explaining the situation in the Middle East.

Look Technical Analysis.

Brent crude is trading at $ 71.60, a decrease of about -0.70% in price.

WTI crude is traded at about $ 62.60, a decrease of about -0.90% in price.

Read also: “Types of trading in financial markets by the criterion of
duration of the transaction. Basics”

Dani Leviant

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

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