Today, oil prices are fluctuating within a narrow range. The volatility is weak. Last week, crude oil depreciated by 4% because of the fears that the Chinese economic growth may slow down. The forecast for the Chinese economy is downgraded, which means that oil price may feel more pressure this week.
The price of the Brent futures for August delivery (ICE Futures) is down by $0,11 and is around $100,80/b.
The price of the Brent futures for August delivery (NYMEX) is down by $0,23 - $93,46/b.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of WTI:
