Oil now

Oil prices are rising on the API data, which showed a record decline in recent weeks, thereby increasing optimism before the publication of EIA data. Also, support for oil is provided by the expectations of US sanctions against Iran, which will come into force in November this year.

Technically, oil remains in an upward trend, limited to overbought after yesterday’s growth, which may appeal for a restrained correction. In this case, positive expectations will limit the decline in oil.

Look Technical Analysis of Oil.

 

At the moment, Brent crude is trading around $ 79.30, up about + 0.30% in price.

The WTI brand oil is trading at $ 69.90, with an increase of about 0.90% in price.

 

Read also: “Correction – an integral part of the price movement in the market and one of the main assistants to the trader”

Dani Levitan

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

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