Oil now
At the beginning of the week, oil quotations show growth on the data on the production reduction in Saudi Arabia and the persistence of strict sanctions against Iran. Also support for oil was provided earlier this week by data that drilling activity in the US continues to decline, indicating a decrease in oil production in the US.
As a result, oil remains in the correction phase, limited to a monthly downtrend, receiving support from the optimistic mood of the oil market, which continues to be limited to the highs of the end of July.
Look Technical Analysis of Oil.
At the moment, Brent crude oil is trading around $ 74.00, an increase of about + 1.10% in price.
The WTI brand oil is trading at $ 69.50, rising about + 1.50% in price.
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Dani Levitan
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