Oil now

The oil market on Friday is under significant pressure, which is associated with uncertainty about the US – China trade agreement. So, earlier, on the growth of optimism about the conclude of a trade agreement and the possibility of canceling some of the trade duties, the oil market received a significant support, but the uncertainty on this issue and the lack of new data caused an increase in pessimism in the market.

As a result, the main oil brands remain under the pressure, limiting themselves to week opening lows, which can be overcome and will open the way to support at October 31 lows. But this is possible with a significant worsening of expectations for trade agreements between the US and China.

Look Technical Analysis.

Brent crude oil is trading around $ 61.40, a decline of about -1.50% in price.

WTI crude oil is trading around $ 56.30, a decrease of about -1.40% in price.

Read also: “The oil market and its cloudy prospects”

Dani Leviant

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

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