Oil now

Oil quotes on Tuesday traded in different directions. The reason for maintaining an ambiguous sentiment in the commodity market continues to be the uncertainty caused by the expectation of the result of the US – China trade talks, that started in Washington on Tuesday. Earlier it was reported that these negotiations have gained momentum and maintain a positive trend.

In the face of declining tensions in the trade confrontation between the USA and China, the oil market can get a push for growth on the acceleration of the global economy. Also data on the decline in oil exports from OPEC continue to provide support for oil quotes. Technically, oil quotes traded in the sideways channel, adjusting with restraint after growth.

Look  Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 65.70, a decline of about -1.10% in price.

WTI crude oil trades at $ 55.70, a decline of about -0.40% in price.

Read also: “Black Swan and its prospects in the near future”

Dani Leviant

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