Oil now
At the beginning of the week, oil shows growth on the risks associated with the possibility of disruptions in oil supplies. Since the end of this week, renewed US sanctions against Iran have come into effect, which support oil quotes. An additional factor in the growth of oil prices is the problem of Saudi Arabia’s export of oil through the Red Sea, which preserves risks related to disruptions from this region.
As a result, the market continues to maintain an upward trend in oil, which contributes to the existing risks.
See Technical Analysis of Oil.
At the moment, Brent crude is trading around $ 75.40, an increase of about + 0.80% in price.
The WTI brand oil is trading at $ 70.10, rising about 2.00% in price.
Read also: “Rectangle – A Worthy Figure of Technical Analysis”
Dani Leviant
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