Oil now
The oil market at the beginning of the week shows multidirectional dynamics after negotiations between Iran and world countries this weekend. The risks of armed conflict in the Middle East were the reason for the meeting. Despite the fact that many questions on Tehran’s nuclear deal remain open, the tone of the talks remained positive, indicating a reduction in tensions in the Middle East.
The persistence of risks of a slowdown in the global economy and the easing of tension in the Middle East caused multidirectional fluctuations in the oil market. The overall dynamics of the oil market, despite attempts to increase optimism, remains restrainedly downward. A significant support for the main oil brands are weekly lows.
Look Technical Analysis.
Brent crude is traded at around $ 63.00, a decrease of about -0.50% in price.
WTI crude oil is traded at around $ 56.00, a decrease of about -0.30% in price.
Read also: “Strategy Retest – 1 more way of income”
Dani Leviant
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- The risks of a trade war are back
- Expectations from the July Fed meeting
- How real is the currency intervention in the US
Current Investment ideas: