Oil now

Oil quotes traded with a slight strengthening at the start of the day for correction after a decline and maintaining optimism amid sanctions against Iran. Previously, oil pressure was exerted by the data that Saudi Arabia and Russia will increase the volume of oil production in order to offset partially the supply shortage on the oil market caused by sanctions against Iran.

General dynamics of main  oil brands remains upward and is limited to annual maxima. Based on the fact that the supply in the oil market remains very low. As a result, oil can continue to grow.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 84.70, an increase of about + 0.10% in price.

WTI crude oil trades at $ 74.60, an increase of about + 0.40% in price.

Read also: “Geopolitical risks as fundamental  factors of the market”

Dani Leviant

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

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