Oil now

At the trading on Thursday, the main oil brands are traded in different directions after having previously updated five-month highs. Oil was supported by a number of data: on the reduction of US oil inventories from the EIA, supply and production problems in Venezuela, statements by Saudi Arabia about the decline in exports and the general weakness of the American currency. As a result, the main oil brands were overbought near their highs. It may strengthen the correction on weak data on China and the growth of pessimism in the stock markets.

Thus, further strengthening the cost of oil will be very difficult. And the nearest significant support for oil is located at the lows of the past week.

Look Technical Analysis of Oil.

Brent crude is traded in the region of $ 67.50, an increase of about + 0.00% in price.

WTI oil is traded at about $ 58.10, a decline of about -0.20% in price.

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Dani Leviant

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