Oil now
Oil is growing at the beginning of the week after a two-day flat movement, which is due to both technical factors and uncertainty surrounding world oil production. Previously, the decline in the US currency was supposed to support the cost of oil, but due to the risks of the possibility of supply growth, this dynamics was limited. Oil is supported by a recent statement by Saudi Energy Minister of Energy, who said that the market is not threatened with oil flooding and thereby refuted concerns about the rapid growth of supply.
Look Technical analysis of Oil.
At the moment, Brent crude oil is trading around $ 74.40, an increase of about 1.70% in price.
Oil brand WTI is trading at $ 69.10, an increase of about + 1.20% in price.
Read also: “Strategy of Martingale in the Forex market”
Dani Leviant
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