Oil now
The oil market has returned to attempts of growth on the correction after the decline and weakness of the American dollar. Waiting for the results of the US Federal Reserve meeting on interest rates increased the corrective pressure on the American dollar. The weakening of the US dollar and the reduction of tension in the Middle East are the main factor in the strengthening of major oil brands.
It should be noted that the oil market remains very restrained, trading near monthly lows. The reason for this continues to be the risks in the Middle East and the short duration of the restrained dynamics of the US dollar. Therefore, general monthly movement of oil in the flat is likely to continue.
Look Technical Analysis.
Brent crude oil is traded in the region of $ 64.20, an increase of about + 0.90% in price.
WTI oil is traded at about $ 57.30, an increase of about + 0.80% in price.
Read also: “Government bonds –
The mechanism of trade and the correlation with the foreign exchange market”
Dani Leviant
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