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Oil now
The oil market is trading with strengthening on correction after the collapse earlier. The reason for the decline in oil prices was data on the introduction the US of new duties to the Chinese goods. This caused a wave of negative sentiment and fears of a slowdown in the global economy and, as a result, a decrease in oil demand.
On Friday, the oil market retreated from fresh monthly lows, but will begin to recover losses fully, despite signs of a decline in supply. The limiting factor remains the risks that slowed down the already weak upward dynamics of the oil market.
Look Technical Analysis.
Brent crude oil is trading around $ 62.10, an increase of about + 2.70% in price.
WTI crude oil is trading around $ 55.20, an increase of about + 2.30% in price.
Read also: “U.S. Trade opposition.
What are the risks?”
Dani Leviant
Earn with the help of the trade service on the news Erste News!
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