Oil now

Oil trades with a slight strengthening on the growth of optimism and data on the reduction of oil supplies in Libya. Also, oil quotes were supported by data that Russia confirmed a decline in oil production from January 2019 within the framework of an OPEC agreement to cut production.

Technically, oil quotes remain near lows, indicating a slowdown in the downward trend. For now, it’s too early to talk about the reversal of the downward trend in oil, but the formation of a side trend indicates an attempts of correction.

Look  Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 60.40, an increase of about + 0.70% in price.

WTI crude oil trades at $ 51.40, an increase of about + 0.70% in price.

Read also: “British Pound (GBP) – Features of trading in crosses”

Dani Leviant

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