Oil now

At the trading on Tuesday oil quotes were under pressure after growth attempts on Monday, which were caused by a statement by the OPEC representative about the possibility of reducing oil production by 1 million barrels per day. The reason for the reduction in the cost of oil was the statement by US President D. Trump, who called on OPEC to abandon these declines in oil production, putting political pressure on OPEC and pressure on the price of oil.

The general strengthening of the American currency has put pressure on oil importers, but the general downward sentiment in the market and the maintenance of the existing trend will continue to put pressure on the price of oil, despite OPEC attempts.

Look Technical Analysis od Oil.

At the moment, Brent crude is trading at $ 68.80, a decline of about -1.90% in price.

WTI crude oil trades at $ 58.70, a decline of about -2.10% in price.

Read also: “Stock Indices: Japanese Market”.

Dani Leviant

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