Oil now

Oil remains optimistic at the start of the Tuesday after a rapidly rising rally earlier caused by the expectation of a reduction in supply in the oil market. The reason for the reduction in supply in the oil market remains US sanctions against Iran, which are the main driver for the rise in oil prices.

In turn, oil quotes remain near multi-month highs, limited to overbought and possible correction, but maintaining a steady uptrend. This is confirmed by keeping optimism in the oil market.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading around $ 80.80, with an increase of about + 0.40% in price.

Oil brand WTI is trading at $ 72.30, an increase of about + 0.30% in price.

Read also: “The Central Bank of Canada – the prospects for monetary policy”

Dani Levitan

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

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