Oil now

On Friday, the oil market returned to growth on the correction and the growth of optimism on the stock exchanges. After a week-long decline, major oil brands strengthened to a greater extent thanks to a technical correction, as the uncertainty about trade negotiations remains, and optimism on the stock exchanges is associated with a general decrease in tension and a weakening US dollar.

Major oil brands slowed down the downward trend, but continue to be limited by significant resistance at the highs of October 31 and 29. These levels are likely to limit the further strengthening of the oil market.

Look Technical Analysis.

Brent crude oil is trading around $ 60.40, an increase of about + 1.30% in price.

WTI crude oil is trading around $ 55.00, an increase of about + 1.50% in price.

Read also: “U.S. Trade Opposition. What are the risks? ”

Dani Leviant

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