Oil now

Oil remains under pressure on trading on Thursday. It is caused by an increase in US oil inventories for the sixth consecutive week. This growth in the context of growing production volumes and lower demand is the most powerful driver for lower oil prices. And it is under the conditions that the US dollar remains under pressure and in the current month sanctions are imposed against Iran.

As a result, the oil market may face a long decline, which will force major oil producers to return to quotas to restrict oil production.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 74.50, a decline of about -1.20% in price.

WTI crude oil trades at $ 64.90, a decrease of about -0.50% in price.

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Dani Leviant

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