Oil today: oil remains in a sideways trend

On Friday, oil prices appreciably strengthened at the beginning of the day, thereby demonstrating very high volatility. This movement was caused by the resumption of expectations regarding the implementation of sanctions against Iran. As a result, the oil market receives little support from optimism. But at the same time, there is also some uncertainty in the market with the growth of oil production and reserves in the US. As a result, along the main oil brands, the lateral trend continues to persist, which is likely to persist until the issue is resolved with Iran.

• The nearest resistance levels are (signals to sell oil): for WTI – 68.50 and 69.00 $ per barrel, for Brent – 74.50 and 75.00 $ per barrel.
• Support levels are (signals to buy oil): for WTI – 67.50 and 67.00 $ per barrel, for Brent – 73.00 and 72.50 $ per barrel.

Hanzenko Anton