Oil remains near the lowest quotes

Some time ago, the price of oil fell to the multi-month lows. This occurred against the background of not very encouraging statistics on the Chinese economy. As a result, manufacturing activity in the country in July showed the biggest decrease since 2014. Also, because of the glut in the market of oil. However, oil started, finally, its upward movement, announce the analysts of FortFS.
Over the last month and a half, the fall of oil prices by 20% was understood by some market participants as the bear move.
The experts of Fort Financial Services remind that futures on WTI reached the point of 48.13 dollars per barrel. Futures on Brent are traded around 54.6 dollars per barrel. The decrease last week- these were the worst indicators since April 2015.
It can be assumed that this reduction would be the most serious in the past 45 years. At the moment, waiting for the recovery of oil prices is not worth it. Experts believe that their fall may last up to 3 years. To change this situation not even historical precedents exist. Lifting of sanctions against Iran with the prospect of its appearance on the market certainly puts pressure on prices.
You can learn more about market reviews on the website.