Oil now
The oil market at the start of the week is trading with strengthening on the correction and the growth of optimism due to the expectation of a trade agreement between the US and China. As a result, the main oil brands show significant growth for the second consecutive day, updating their monthly high.
In addition to general optimism and correction, other factors do not provide significant support to the oil market. Given the significant overbought formed in the first days of November, further growth in the oil market will be difficult.
Look Technical Analysis.
Brent crude oil is trading around $ 62.50, an increase of about + 1.30% in price.
WTI crude oil is trading around $ 57.00, an increase of about + 1,540% in price.
Read also: “Risks of global economic slowdown are escalating”
Dani Leviant
Earn with the help of the trade service on the news Erste News!
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