Oil now

At Friday’s trading, the main oil brands returned to the level of the opening of the day after attempts to grow. The reason for such an ambiguous dynamics of oil was the multidirectional dynamics of the US currency and stock markets. Thus, oil is trading near weekly highs, almost fully recovering against the decline on Trump’s comments to OPEC, which caused a decrease in oil at the start of the week.

The dynamics of oil remains restrained and limited by the flat of the last weeks. In the conditions of maintaining a high level of supply from the United States, the current dynamics is very optimistic. It is worth noting that in the future in the current situation, the further strengthening of oil will be limited.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 66.30, a decrease of about -0.10% in price.

WTI crude oil trades at $ 57.30, an increase of about + 0.20% in price.

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Dani Leviant

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