Oil now

Major oil brands continue to trade at the opening of the day, remaining under pressure from the data that the sanctions against Iran did not take effect in full force. Thus, a number of the largest importers of Iranian oil received a grace period of 180 days, which ultimately strengthened the supply in the oil market, especially against the background of data that the USA, Saudi Arabia and Russia are increasing oil production.

Thus, the oil market was under pressure from a large volume of supply for a grace period, which actually postponed sanctions against Iran for half a year.

Look  Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 72.60, a decrease of about -0.80% in price.

WTI crude oil trades at $ 62.90, a decline of about -0.50% in price.

Read also: “China is the main locomotive of the world economy”

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 trand is confirmed by volume!
2. Dow Theory – The price discount all the news!
3. Oil market expectations for November

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!”