Oil now

The oil market remains restrained whil waiting for the data on oil inventories in the United States. Previously published API data on the US oil reserves showed an increase in the US oil inventories by 5.9 million barrels per week. This greatly exacerbated market concerns about supply growth ahead of EIA official data.

As a result, the oil market approached monthly lows, slowing down the restrained upward trend in recent months. In the context of further growth in supply from the United States, major oil brands aimed at a low of November 1 and a low of October 21.

Look Technical Analysis.

Brent crude oil is trading around $ 61.30, an increase of about + 0.60% in price.

WTI crude oil is trading around $ 55.60, an increase of about + 0.50% in price.

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Dani Leviant

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