Oil prices continue to grow for the third day in a row. This growth occurs against the background of the expansion of US sanctions, which may significantly affect the export of Russian oil to China and India. In addition, the price growth may be provoked by closing positions of sellers, who previously expected the price of the asset to decline.

Technically

Taking into account the strength and significance of the support zone, from which the quotes started to grow, the resistance located in the zone of $78.50 mark does not pose a serious threat. However, consolidation is possible here.

When making deals

It is necessary to follow the data on inflation and speeches of Fed representatives, expected in the USA this week. The information may influence the dynamics of the US dollar against other instruments, including oil.