Oil now

The oil market at Wednesday trades remains restrained in movement due to uncertainty. From the start of the day, major oil brands have declined slightly, maintaining the existing trading weekly range. The uncertainty about the US-China trade agreement and the Brexit deal between the EU and the UK are the limitation and the constraints for the oil market.

The restraint of the main oil brand is expressed by the trading range of recent days. It is worth to note that since the beginning of October, the oil market has been demonstrating a restrained upward trend in correction after the decline. Significant resistance, limiting the further growth of the oil market, remains the October 11th high. Support is at a low of October 10th.

Look Technical Analysis.

Brent crude oil is trading around $ 58.80, an increase of about + 0.10% in price.

WTI crude oil is trading around $ 53.00, an increase of about + 0.30% in price.

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Dani Leviant

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

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1. The results of the US-China trade talks
2. Cloudy prospects for the  oil market 
3. Risks of global economic slowdown are escalating

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