Oil now

The oil market resumed the growth after a moderate decline at the start of the day on the correction after Friday’s growth. The reason for the increase in the cost of major oil brands was a general increase in optimism associated with data on the promotion of the US and Chinese trade negotiations and the possibility of signing a trade agreement at the Chile summit.

Due to the general growth of optimism around the US-China trade talks, major oil brands returned to monthly highs, expecting renewed demand growth. At the same time, oil strengthening, despite optimism, is limited by overbought and recent highs, from which a correction is expected, which, in turn, will be limited by optimistic sentiments.

Look Technical Analysis.

Brent crude oil is trading at around $ 61.90, a decline of about -0.10% in price.

WTI crude oil is trading around $ 56.70, an increase of about + 0.20% 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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