Oil now

The oil market has resumed strengthening on reducing the risks of a trade war and concerns about a slowdown in the US economy. Against this background, major oil brands formed a reversal from weekly lows. Technically, the oil market resumed the upward trend, which can be traced from August 8. But, given that the general risks of a trade war remain, and the oil market is limited by a rather high level of supply, the August 13 highs remain significant resistance for major oil brands.

Look Technical Analysis.

Brent crude oil is trading around $ 59.30, an increase of about + 1.80% in price.

WTI crude oil is trading around $ 55.40, an increase of about + 1.80% in price.

Read also: “China is the main locomotive of the world economy”

Dani Leviant

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

Topical articles of the trader’s blog:

1. A new front opens in the trade war
2. Gold in the light of current events. How long is its growth
3. A new round of trade war: duties, restrictions, prospects

Current Investment ideas:

1. Selling Alcoa shares makes a profit! Three reasons to connect now!
2. The trade war for Boeing: good or bad and how can we make money from it!