Oil now
From the start of the week, the oil market has shown steady growth, despite the risks of trade confrontation between the USA and China. The oil quotes were supported by reports of an attack on 2 Saudi vessels in order to impede the supply of oil. This message caused an exacerbation of tension in the Persian Gulf. After a complete embargo on Iranian oil and Iran’s threats to the United States, this news is regarded especially acutely by the possibility of an armed conflict in the region.
Oil quotes are supported solely from increased risks and the possibility of reducing supplies. At the same time, the main brands of oil are trading near monthly highs, limited to overbought and downward dynamics.
Look Technical Analysis.
Brent crude is trading at $ 71.80, an increase of about + 1.70% in price.
WTI oil is traded at about $ 62.60, an increase of about + 1.50% in price.
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Dani Leviant
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