Oil now

On Thursday, the oil market was under the pressure from the correction after the rapid growth earlier. The oil market was supported on Wednesday by data on the reduction of oil and petroleum products in the United States. Technical correction and the expectation of a number of significant meetings: the G20 and OPEC + caused a correction of long oil positions due to uncertainties.

The overall dynamics of the oil market remains ascending, despite signs of its slowdown. Technically, oil quotes remain near the multi-week highs, which contributes to the downward correction.

Look Technical Analysis.

Brent crude is traded at around $ 65.20, a decrease of about -0.80% in price.

WTI crude is traded at around $ 58.90, a decline of about -0.70% in price.

Look also: “Fundamental analysis –
Basics and what to pay attention to the trader”

Dani Leviant

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

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