Oil now - Ester Holdings

Oil now

At the trading on Wednesday, oil prices demonstrate a moderate correction after yesterday’s collapse, which was caused by an increase in supply in the oil market and evidence that global oil consumption is declining. Starting from the middle of the day, oil moved to a correction amid growing optimism in stock markets and technical correction. Oil is also supported by a modest decline in the American currency.

Despite attempts to increase the cost of oil, concerns about growth in supply and reduction in demand for oil continue to grow. Confirming factor of these risks was the recent criticism of US President Trump the OPEC intentions to reduce production volumes. At the same time, the growth of oil production in the USA continues to grow at a rapid pace. As a result, the growth of oil remains a correction before the decline.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 66.20, an increase of about + 1,910% in price.


WTI crude oil trades at $ 56.20, a decrease of about + 0.90% in price.


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

Dani Leviant

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

Topical articles of the trader’s blog:

  1. Dow Theory – Averages must confirm each other!
  2. Market activity depending on the days of the week
  3. Dow Theory – The trand is confirmed by volume!

CurrentInvestmentideas:

  1. “3 reasons to buy  Cisco Systems Inc. shares”
  2. “It’s time to hit the jackpot on the sale of McDonalds shares!”

Аналитическая рассылка

Analytical newsletter
Subscribe to the analytical newsletter to be up-to-date with current events!

Вы с украины?