Oil now
The oil market continues to recover after a collapse in the first half of the week. An additional reason for the correction of major oil brands was the data of the International Energy Agency (IEA) on a decrease in oil supplies from OPEC to the level of 1.9 million barrels per day. This news was received very positively by the oil market, given recent rumors that Saudi Arabia has initiated negotiations to reduce supplies from OPEC.
Major brands of oil continue to trade with strengthening, limiting themselves to resistance levels at the opening of trading on Wednesday, actually remaining in the correction phase after a monthly decline.
Look Technical Analysis.
Brent crude oil is trading around $ 58.20, an increase of about + 1.50% in price.
WTI crude oil is trading around $ 53.30, an increase of about + 1.50% in price.
Read also: “Dow Theory – Averages must confirm each other”
Dani Leviant
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