Oil now

At the opening of a new trading week, the oil market is trading in different directions, maintaining a steady downward trend. The reason for the weakening of oil prices, in addition to the growth of pessimistic sentiment in the market, is the clear preservation of a high level of supply, amid the slowdown of large world economies and a decrease in demand for oil.

Major oil brands have almost completely corrected against Friday growth. But they continue to maintain a restrained downward trend, limiting themselves to the low of November 8. At the same time, general monthly dynamics of the oil market remains moderately upward, despite signs of a slowdown in growth.

Look Technical Analysis.

Brent crude is trading around $ 62.00, a decline of about -0.80% in price.

WTI crude oil is trading at around $ 56.60, a decline of about -1.10% in price.

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Dani Leviant

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