Oil now - Ester Holdings

Oil now

After rapid growth at the opening of the week, the main oil brands moved to correction. The reason for the strengthening of oil prices was the data on a temporary reduction in tension in the US-China trade opposition and information that Russia is ready to join in limiting oil production, which will be discussed at OPEC meetings on December 6. As a result, the oil market has received significant support for the growth of optimism. It even allowed to slow down significantly the downward dynamics in oil. At the same time, it is too early to talk about a full-scale correction.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 61.80, an increase of about + 3.90% in price.


WTI crude oil trades at $ 53.00, an increase of about + 4.00% in price.


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Dani Leviant

 

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