Prices for Brent crude oil rallied at 2% on Tuesday trades
Prices for Brent rose sharply against the background of political tension. There was an aggravation of relations between Iran and the head of the White House, Donald Trump, who threatens to terminate the nuclear deal. They put considerable pressure on the market and quotes, as it can reduce the volume of daily world oil production by 600 thousand barrels per day.
Also today in the United States comes a weekly report on crude oil reserves, which due to the increase in the number of drillings can deploy quotes. Therefore, based on these facts and the fact that the price approached the psychological level of $68 per barrel, we expect the release of prices and the reversal of quotations.
Therefore, we will consider the opportunities to enter the market for short positions and seek for its targets level of $65.00 per barrel. Stop-loss can be set at 68.50
Also today in the United States comes a weekly report on crude oil reserves, which due to the increase in the number of drillings can deploy quotes. Therefore, based on these facts and the fact that the price approached the psychological level of $68 per barrel, we expect the release of prices and the reversal of quotations.
Therefore, we will consider the opportunities to enter the market for short positions and seek for its targets level of $65.00 per barrel. Stop-loss can be set at 68.50