Oil today

On Friday, oil quotations remain in the correction phase after updating the highs of the last three years. The decline in oil prices was caused by the technical correction and the short-lived weakness of the American, which strengthened the first factor. Also, one should not forget that the market has already considered all possible consequences of the US withdrawal from Iran’s nuclear agreement, and there are no new drivers for strengthening of oil.

In turn, the main brands of oil retain an upward trend, and this correction may serve as an excuse for resuming growth, which is also indicated by the upward dynamics.

At the moment, Brent crude is trading at around $ 77.30, a decline of about -0.20% in price.

WTI oil is trading at $ 71.30, a decline of about -0.10% in price.

Also, see Technical Analysis of Oil.

Hanzenko Anton