WTI reclaims the area above the $70.00 mark – by pabspiovano Oil WTI Commodities Energy
The API and the EIA will report on oil inventories later in the week.starts the week in a positive fashion and looks to surpass the key $70.00 mark per barrel on a sustainable mood.After three consecutive daily pullbacks, prices of the barrel of the WTI gather some steam and hover around the key $70.00 region on the back of traders’ concerns over the current tight supply conditions, while ongoing output cuts by the OPEC+ also add to the upbeat mood in the commodity.
Later in the week, the API and the EIA will report on weekly US crude oil inventories on Tuesday and Wednesday, respectively.At the moment the barrel of WTI is up 0.86% at $70.63 and faces the next resistance at $73.83 seconded by $76.92 and finally $79.14 . On the other hand, the breach of $63.97 would open the door to $64.41 and then $61.76 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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