Oil now
On Friday, the oil market remains under the pressure from the correction after the rapid growth earlier. The reason for the strengthening of oil prices were the reports of an attack on two oil tankers, which caused an exacerbation of tensions in the Middle East and, as a result, became a driver for strengthening oil prices on the growing risks of disruptions in oil supplies from the Persian Gulf.
Against the background of increasing risks, the main oil brands retreated from multi-month lows. But in conditions of continued decline in oil demand, the oil market quickly moved to a correction, indicating a potential for decline after growth, and a technical correction could be regarded as a driver for sale. The main risk factor and the reason for the strengthening of oil could be the further exacerbation of tension in the Gulf of Oman.
Look Technical Analysis.
Brent crude is traded in the region of $ 61.30, a decline of about -0.10% in price.
WTI crude oil is traded in the region of $ 52.70, a decrease of about -0.30% in price.
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Dani Leviant
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