Oil now

Oil quotations are traded with strengthening on the expectation of a reduction in supply in the oil market, due to US sanctions against Iran. In support of these expectations, there are also data on the reduction in oil exports from Iran due to a decrease in demand from buyers who may also be affected by US sanctions.

Technically, the main oil brands are limited by a moderately upward trend and continue to trade near recent highs. The main limiting factor in the growth of the cost of oil remains its overbought and the risks of trade confrontation.

Look Technical Analysis of Oil.

At the moment, Brent crude oil trades around $ 81.30, an increase of about + 0.70% in price.

WTI oil is trading at $ 72.30, rising about + 1.00% in price.

Read also: “The concept of the market driver and what to look for in trading”

Dani Levitan

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

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