Oil now
On Thursday, the main oil brands are trading very restrained, staying at the opening of the day. Previously, pressure on the oil market was exerted by data on the US oil reserves from the EIA, which showed an increase in oil inventories by more than 7 million barrels for the week. Reduced optimism in the stock markets and the total overbought of oil had a corrective impact on the oil market.
At the same time, the main oil brands and the oil market in general remain in an uptrend, having actually found for significant support at yesterday’s lows. The potential to strengthen the cost of oil remains, despite the overall increase in risk. It is also worth noting that in the face of risk preservation, a significant strengthening of oil will be limited to recent highs.
Look Technical Analysis.
Brent crude is traded at around $ 69.50, an increase of about + 0.30% in price.
WTI oil is traded at around $ 62.70, a rise of about + 0.30% in price.
Read also: “Risk assets and how to trade them in the Forex market”
Dani Leviant
Earn with the help of the trade service on the news Erste News!
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