Oil now

At the start of the week oil is trading downward to maintain a downtrend. Information that the US sanctions against Iran did not come into force in full is the reason the weakening of oil prices. It made possible to preserve partially Iran’s oil exports for the main exporters. As a result, Iran’s oil supply actually remains in the oil market, which increases pressure on the price of oil. This situation remains temporary and associated with the risks of destabilizing the balance of supply and demand.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 72.90, an increase of about + 0.10% in price.

WTI crude oil trades at $ 62.90, a decline of about -0.20% in price.

Read also: “Emerging markets and their prospects: Chinese yuan (CNH or CNY)”

Dani Leviant

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

Topical articles of the trader’s blog:

1. Dow Theory – The price discount all the news!
2. Oil market expectations for November
3. GDP of the world’s fast-growing economies

Current Investment ideas:

1. “3 reasons to buy  Cisco Systems Inc. shares”
2. “It’s time to hit the jackpot on the sale of McDonalds shares!”