Oil now

With the opening of trading on Wednesday, the oil market moved to a correction after rising earlier. The driver to reduce the cost of oil, in addition to the technical correction after the growth, was the increased risk of exacerbated trading tension and the expectation of data on oil reserves in the United States. So, on Thursday, weekly data on oil reserves in the United States are expected from API and EIA, which exert restrained pressure on oil prices in the context of expectations of growth in oil production and oil reserves in the United States.

Technically, the oil market continues to trade in a restrained uptrend since May 24, actually being limited to a number of fundamental factors, among which the tension in the Middle East remains one of the main factors, which, despite the relative lull, remains unsolved.

Look Technical Analysis.

Brent crude is traded at around $ 68.00, a decrease of about -0.90% in price.

WTI oil is traded at about $ 58.40, a decline of about -1.20% in price.

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Dani Leviant

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