Oil now

The oil market is declining for the second consecutive day with the opening of the week. The reason for the decline in oil prices remains the risks associated with the conclude of the US – China trade agreement, which, due to the delay, increasingly reduce the likelihood of a deal. It is also worth to note the continued high level of supply and expectations of growth in the US crude oil inventories, which puts direct pressure on the oil market.

The main oil brands, despite a noticeable decrease, continue to be limited to the lows of November 13 and 8, which, in turn, maintain a restrained upward trend in the current month.

Look Technical Analysis.

Brent crude oil is trading at around $ 61.70, a decline of about -1.20% in price.

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

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Dani Leviant

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