Oil now
From the start of the European session, oil quotes have gone up to maintain optimistic sentiment on stock exchanges and positive expectations from data on US oil inventories, that showed a significant reduction in inventories last week. The main factor in strengthening oil prices is the positive sentiment associated with sanctions against Iran and the US dollar decrease, which cheapens exports. It should also be noted that the main oil grades are limited to a monthly maximum and technical overbought, not to mention the risks of rising oil inventories in the US.
Look Technical Analysis of Oil.
At the moment, Brent crude is trading around $ 76.80, with an increase of about + 0.3% in price.
The WTI brand oil is trading at $ 68.80 a barrel, rising about + 0.00% in price.
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Dani Levitan
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