Oil now
Major oil brands are traded with restrained strengthening at auction on Thursday. Reserved upward dynamics of oil is due to the preservation of the general level of optimism in the market and restrained correction after the decline. Earlier, pressure on the oil market was exerted by data on the US oil inventories, which turned out to be very mixed. So, despite the actual decline in crude oil inventories, stocks of gasoline distillates increased. Which in the long term may indicate a decrease in the consumption of crude oil by refineries.
Major oil brands slowed the upward trend in August, retreating from the Wednesday. In the face of continued risks and signs of growth in supply, the oil market moved to the formation of lateral dynamics, receiving general support from reducing the risks of a trade war and maintaining tension in the Middle East.
Look Technical Analysis.
Brent crude oil is trading around $ 60.70, an increase of about + 0.60% in price.
WTI crude oil is trading around $ 56.20, an increase of about + 0.90% in price.
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Dani Leviant
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