Oil now
Oil quotes are growing at the start of the day for correction and growth of optimism in the market. The driver for the strengthening of oil prices is several factors: the general weakness of the US dollar, OPEC statements about the decline in exports and the persistence of tension in the Middle East. Also worth noting is the technical correction of oil after a rapid decline on Thursday. The driver for the sale of oil steel data on the growth of oil reserves in the United States and the risks of reducing consumption.
The oil market closes the week by updating the monthly lows and confirming keeping the downward trend in the oil market. As a result, the oil market may develop a full-scale recession aimed at the opening levels of March.
Brent crude oil is traded in the region of $ 68.60, an increase of about + 1.20% in price.
WTI oil is traded at around $ 58.60, an increase of about + 1.20% in price.
Read also: “Divergence – common mistakes in trading”
Dani Leviant
Earn with the help of the trade service on the news Erste News!
Topical articles of the trader’s blog:
- Cryptocurrencies as new safe haven assets
- The impact of the trade war on the US stock market
- Expectations from the AUD/USD pair for May
Current Investment ideas:
- Hewlett-Packard shares are ready to close the gap, and we are ready to close the profits!
- Several reasons to buy Walmart shares. Use the chance to earn!