Oil now

At the trades on Thursday, oil quotes demonstrate a moderately positive dynamics, remaining at the level of the opening of the day. The reason for the growth of optimism about oil became data on the increased demand from China. Thus, according to the General Administration of Customs of China, oil imports increased by 0.56 million barrels per day compared with the previous month and amounted to 9.61 million barrels per day. On the other hand, the restraining factor for oil remains the recovery of the American currency and the growth of oil inventories in the United States, which have been growing for the seventh  consecutive week.

Technically, the main oil brands formed support at yesterday’s lows, but also limited to Wednesday high. General dynamics of oil remains negative and is limited to maintaining growth in supply on the oil market.

Look Technical Analysis of Oil.

At the moment, Brent crude is trading at $ 72.00, a decrease of about -0.10% in price.

WTI crude oil trades at $ 61.60, a decrease of about -0.05% in price.

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Dani Leviant

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