Oil now
At the trading on Thursday, the main oil brands slowed down a little on the technical correction after growth. So, throughout the day, the major brands updated their annual highs, but after that they went down. The reason for the update of the highs and the preservation of the overall upward dynamics of the oil market continues to be the data on oil reserves in the United States, which showed another decline in oil and petroleum products in the United States.
On the other hand, the growth of pessimism in the stock markets and the correction on higher timeframes will limit the further strengthening of oil. Significant support for oil settled at weekly lows, which are expected to rebound with a further resumption of growth.
Look Technical Analysis of Oil.
Brent crude is traded at around $ 68.30, a decrease of about -0.30% in price.
WTI crude is traded at around $ 58.60, a decrease of about -0.40% in price.
Read also: “Safe Haven – security tools in financial markets”
Dani Leviant
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