Oil now

On Thursday, the oil market remains under the pressure amid a correction after growth and data on the growth of oil reserves in the United States. The latest EIA report on the US oil reserves for the week showed a significant increase in crude oil inventories and a no less significant decrease in gasoline reserves. But in the face of risks and a slowdown in global oil demand, data on the growth of the US oil inventories had a more significant impact on the oil market.

Despite all the risks of a slowdown in the global economy and a decrease in demand for oil, the oil market maintains an upward trend, despite attempts of correction. It also contributes to lower exports in Venezuela and OPEC.

Look Technical Analysis of Oil.

Brent crude oil is traded in the region of $ 71.30, a decrease of about -0.60% in price.

WTI crude oil is traded in the region of $ 64.10, a decrease of about -0.80% in price.

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Dani Leviant

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Topical articles of the trader’s blog:

1. Oil market: results and forecasts
2. World reserve currencies and their popularity
3. Stock indices and their impact on the Forex market

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