Oil now
On Friday trades, oil prices are trading down after rising the day before. The reason for the decline in oil prices was the resumption of negative sentiment on the stock markets following the publication of weak statistics on industrial production in China. Also, additional pressure on oil had data on the exacerbation of political relations between the United States and Saudi Arabia. In addition, there is a certain uncertainty in the oil market, which is connected with ambiguous forecasts for oil consumption and the development of the world economy.
Technically, the main oil brands are traded in the side channel, which can be traced from the end of November. At the same time, this side trend is limited to the lows of the current year.
Look Technical Analysis of Oil.
At the moment, Brent crude is trading around $ 60.90, a decrease of about -0.80% in price.
WTI crude oil trades at $ 52.20, a decrease of about -0.70% in price.
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Dani Leviant
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