Oil now
The main oil brands are traded with a decrease in trading on Wednesday, which was caused by an increase in pessimism in the stock markets at the start of the day and an worsening of negative attitudes because the slowdown of the global economy. Also, oil prices were under pressure from the growth of the US dollar and the expectation of the EIA data on US oil inventories, which are expected to increase oil reserves. Restrained support for oil is provided by sanctions against Venezuela and OPEC statements of intent to strengthen partnerships with non-cartel countries.
The cost of oil technically remains under pressure from the correction after growth at the start of the month, forming a restrained uptrend and limited to the flat zone of last December.
Look Technical Analysis of Oil.
At the moment, Brent crude is trading at $ 61.40, a decrease of about -0.90% in price.
WTI crude oil trades at $ 53.10, a decrease of about -0.90% in price.
Read also: “Stock indices of America: Canada, Mexico and Brazil”
Dani Leviant
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