Oil now

On Friday, oil prices resumed their decline after short attempts of correction at the start of the day. As a result of the next decrease, the main oil brands approached the levels of July-August 2017. The reason for the new wave of oil sales was the data on the preservation of high volumes of shale oil production in the United States, which remain at historic highs, which virtually completely cover the OPEC restrictions on oil production, especially in the face of reduced global oil consumption. As a result, downward sentiments returned to the oil market, which strengthened the downward dynamics and confirmed keeping the downward trends in oil.

Look Technical Analysis of Oil.

At the moment, Brent crude is traded at around $ 53.30, a decrease of about -2.00% in price.

WTI crude oil trades at $ 45.40, a decline of about -1.00% in the price.

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Dani Leviant

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

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