Oil now

At the start of the week, oil quotations demonstrate multidirectional dynamics remaining near the opening day. The reason for ambiguity in the oil market remains market restraint and uncertainty about the US dollar. As a result, Brent is limited to the trading range on Friday, while WTI remains near the last week’s low. Such an apparent multidirectionality is caused by the persistence of risks of growth in oil production in the US on the background of fears of a slowdown in the growth of the world economy.

Look Technical Analysis of Oil.

At the moment, Brent crude oil is trading around $ 71.90, an increase of about + 0.10% in price.

Oil brand WTI is trading at $ 64.90, a decline of about-0.50% in price.

Read also: “Analysis of cross-rates in relation to major currency pairs”

Dani Levitan

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

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