Today, during the Asian session, the price of oil shows ambiguous dynamics, trying to consolidate above the level of $40 per barrel.
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Last week, oil was trading upwards, and today the instrument continues to grow, approaching the upper edge of the Murrey trading range of 43.75 amid reports of declining energy supplies from Libya and a new decline in production in Venezuela.
This week, oil quotes were trading in an uptrend. Investors were optimistic, hoping for a gradual opening of the American and European economies, which should have contributed to increased demand for energy.
In the last few days, oil prices traded in different directions, located around the level of 41.50. The price is under the pressure of an increase in the incidence of coronavirus in the world. Several countries were forced to suspend the program of gradual lifting of restrictions and introduce the previous quarantine regime in some parts.