Oil now - Ester Holdings

Oil now

The oil market continues to show growth in the exacerbation of political tensions around the US sanctions against Iran. Earlier, the US statement on tightening sanctions against Iran caused a wave of criticism from China, India and Iran, which turned into a statement by Iran to cut off oil exports from the Persian Gulf. Against the background of risks and aggravation of the geopolitical situation, oil prices moved into a phase of active growth, completely ignoring data on oil reserves in the United States.

According to the EIA, over the past week, oil inventories in the United States increased by almost 5.5 million barrels, which ultimately had a restraining effect on the upward trend of the WTI oil brand. As a result, WTI is limited to recent highs, and Brent storms semi-annual highs.

The overall dynamics of oil does not depend on actual indicators of supply and demand, but on political factors. So, any aggravation of political relations in the Persian Gulf will be regarded by the oil market as a signal for growth.

 Look Technical Analysis of Oil.

Brent crude is traded at around $ 74.30, an increase of about + 1.20% in price.


WTI oil is traded at around $ 66.00, a rise of about + 0.50% in price.


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