Oil now

At the beginning of the week, oil quotations are traded at the level of opening the day, despite the growth of drilling activity in the US, the preservation of risks and the possibility of slowing the growth of the global economy. So, on Friday there were data on the number of active oil rigs in the US for the week, which increased by 10 units. In addition, the market remains pessimistic in the face of increasing risks and increasing supply. On the other hand, the US’s tough position on Iran is supporting the oil market.

As a result, oil quotes have receded from the monthly lows and are traded in the correction phase, after the decline last week.

Look Technical Analysis of Oil

At the moment, Brent crude is trading around $ 72.80, rising about + 0.00% in price.

WTI oil is trading at $ 67.40, a decline of about -0.30% in price.

Read also: “Emerging markets and their prospects: South African Rand (ZAR)”

Dani Levitan

Earn with the help of the trade service on the news Erste News!

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