Oil now

Oil quotes are traded in different directions on the growing risks of exacerbation of thr US  China trade relations between the United States and China. Major oil brands started trading on Thursday with a decline on fears of a rise in the overall level of risks and the flight of investors to the statement by the US president that China had “broken” all hopes for trade negotiations. After this statement, the market tracked the flight of investors from risk, which adversely affects the dynamics of oil.

Two-week dynamics of oil remains down, despite very optimistic data on the reduction of oil reserves in the United States. Against the background of growing risks of exacerbation of trading counterbalance, the oil market is more prone to flat formation and is limited to recent lows.

LookTechnical Analysis.

Brent crude oil is traded around $ 70.20, a decrease of about -0.20% in price.

WTI crude is traded at $ 61.90, a decrease of about -0.40% in price.

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Dani Leviant

Earn with the help of the trade service on the news Erste News!

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