Oil now
At the trading on Monday, the main oil brands accelerated the decline after the attempts to growth at the start of the day. The reason for the decline in the cost of oil was a technical correction and an increase in the value of the US dollar. Earlier, oil quotes were supported by data on drilling activity reduction in the USA. Also, oil support is provided by US sanctions against Venezuela, which are still focused on the oil sector in Venezuela. Also, oil support was provided by statements by the US President D. Trump about the possibility of insert the US troops into Venezuela.
Technically, the main oil brands moved to correction after growth last week, pointing to the maintenance of the restrained lateral dynamics and the stability of the existing trade channels.
Look Technical Analysis of Oil.
At the moment, Brent crude is trading at $ 62.70, a decline of about -0.60% in price.
WTI crude oil trades at $ 54.70, a decline of about -0.90% in price.
Read also: “Prospects for the recovery of emerging markets”
Dani Leviant
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