Oil now

The oil market is restrained at the trades on Tuesday, after a moderate growth earlier. The reason for the strengthening of the oil market on Monday was the data on the attack on an oil field in Saudi Arabia. What was the reason for the exacerbation of tension in the Middle East and the growth of major oil brands.

The oil market was also supported by a general increase in optimism associated with a decrease in the aggravation of trade risks, thereby giving rise to the resumption of upward dynamics in the oil market. But it is worth noting that general dynamics of the main oil brands remains restrained and limited to the trading range of the previous trading week.

Look Technical Analysis.

Brent crude oil is trading around $ 59.90, an increase of about + 0.30% in price.

WTI crude oil is trading around $ 56.20, an increase of about + 0.10% in price.

Read also: “World Central Banks Prepare to Cut Rates”

Dani Leviant

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

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