Oil now

Oil remains optimistic on the continuation of the oil inventories decline in the US, after the publication of EIA data showed oil cuts for the fifth consecutive week. Also, support for oil continues to be given by the expected introduction of sanctions against Iran, which contributes to reducing the demand for Iranian oil.

Significant growth in oil, in turn, is limited by the tension around the  US and China trade confrontation and the fact that the oil of the main brands is traded near the annual highs, keeping overbought.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 79.60, with an increase of about + 0.30% in price.

WTI oil is trading at $ 71.20, an increase of about + 0.60% in price.

Read also: “Incidents of the 21st century, that had an impact on the financial market”

Dani Levitan

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

Topical articles of the trader’s blog:

1. Prospects for the dollar by the end of September beginning of October 2018
2. The EU and the UK are making compromises on Brexit
3. Singapore dollar. Features of trade.

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!