Oil now

Oil prices returned to decline on Friday trades after attempts to grow on Thursday. The reason for the resumption of pessimism in the oil market was the very negative data on China’s trade balance, which, in turn, pointed to a further slowdown in China’s economy, which is the largest consumer of oil. This actually increased pessimism not only in the oil market, but also in the stock markets and the market in general.

Friday’s decline also confirmed the safety of a restrainingly downward trend in oil, which has been traced since mid-February. In this case, support is located at the lows of recent weeks.

Look Technical Analysis of Oil.

Brent crude is traded at around $ 65.10, a decline of about -1.80% in price.

WTI oil is traded at about $ 55.70, up about -1.60% in price.

Read also: “Stock Indices: the US Market”

Dani Leviant

Earn with the help of the trade service on the news Erste News!

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