Oil now

At the beginning of the week, oil quotations of major oil brands are traded under pressure, after the collapse at the opening of trading and attempts to correct. The main pressure on oil is from the side of the OPEC meeting, which, according to the results, will increase production, but not as significantly as previously expected. Also, oil remains under the pressure of negative sentiment associated with the US trade confrontation and the collapse of stock indices.

At the same time BRENT and WTI are traded in different directions, which is connected with a slight decrease in drilling activity in the USA. In the end, this may serve as an excuse for reducing the gap in the value of these types of oil.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 74.20, a decline of about -1.50% in price.

WTI oil is trading at $ 68.60, with an increase of about + 0.10% in price.

Read also: “Cup with a Handle” – “Zest” Among the Figures of Technical Analysis “

Dani Levitan