Oil now

Oil resumes decline after growth attempts, oil pressure has resumed the negative sentiment that persists in the market. Previously, oil quotes were supported by a message from a Russian representative about the possibility of limiting oil production. Thus, OPEC and Russia are discussing a partial restriction of oil production, which can stabilize the oil market.

General technical picture of the oil market indicates a continued downtrend, despite significant oversold. There is also considerable pressure on oil from the constantly growing oil inventories in the United States.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading in the region of $ 59.30, a decrease of about -1.00% in price.

WTI crude oil trades at $ 50.70, a decline of about -1.40% in price.

Read also: “Sentiment Index and Consumer Expectations Index”

Dani Leviant

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

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