Oil now

Oil quotes after attempts to grow early in the day returned to decline. The reason for the weakening of the major oil brands remains the risks of a slowdown in the global economy, which is largely due to the slowdown in production in China and its decline in demand for oil. Positive factors for the cost of oil are optimistic expectations for the reduction of oil inventories in the United States and the decline in production at OPEC.

Technically, the main oil brands remain in the balance zone, maintaining an upward trend, but showing a certain slowdown in growth, thereby indicating the formation of uncertainty in the oil market.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 60.40, a decrease of about -0.40% in price.

WTI crude oil trades at $ 51.70, a decline of about -0.70% in price.

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Dani Leviant

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