Oil now
Oil quotations resume growth on the correction and growth of optimism at the trading on Friday, after being under pressure of the US president’s statement on Thursday, when he called on OPEC to reduce oil prices, causing a reduction in long positions before the OPEC meeting this weekend.
The overall dynamics of oil remains positive, receiving support on data on the reduction of oil reserves in the US and expectations of a reduction in supply in the oil market due to sanctions against Iran. At the same time, the upcoming OPEC meeting that will take place at the weekend remains a risk factor for the oil market, that can limit the corrective dynamics of oil.
Look Technical Analysis of Oil.
At the moment, Brent crude oil trades around $ 79.30, an increase of about + 0.80% in price.
The WTI brand oil is trading at $ 70.70, up about + 0.60% in price.
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Dani Levitan
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