Brent crude oil continues to fall against the backdrop of a general reluctance of traders to take risks. In the Asian session on Friday the price of one barrel of oil is $ 61.54. The threat of the spread of coronavirus is still the main theme of all the headlines, causing panic and exodus of traders from the location of risky assets. The Chinese authorities have imposed quarantine in the three metropolitan areas with a total population of nearly 20 million. Man due to the rapid spread of the infection, which, according to recent data, has already infected 583 people, 17 of whom died.
From 10 am local time (5.00 MSK) was stopped by road, rail and air communication with the Wuhan, 11,000,000th city in Hubei province in the east of China, which is the 7th most populous city of the country. The situation is aggravated by the fact that in China today began celebrating the Lunar New Year period, which runs until the end of January. During this period there is a high probability that the virus will have a greater geographical distribution.
Despite the above, the buyers of oil by closing yesterday still play Remove the decline after data from the US Energy Information Administration (EIA), reported a decline in oil inventories in the week ended January 17, on the 400 th. Barrels. However, as noted earlier, completely reverse the downward trend in the market of hydrocarbons is only possible with the removal of the risk of a world pandemic. Until then, the sale of Brent will remain a priority.
Brent SellStop 61,30 TP 59,50 SL 61,80
Analytical reviews and comments reflect the personal opinion of the authors and are not a recommendation to trade. Author trader analyst Artem Deev. AMarkets shall not be liable for any damages in case of a vision materials.
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