WTI
87.954
Today
-4.33%
5 Days
-6.80%
1 Month
-2.48%
6 Months
-9.71%
Year to Date
+53.59%
1 Year
+43.11%
Key Data Points
Opening Price
92.434Previous Closing Price
92.000WTI Trading Strategy
Trading Strategy
Long positions above 79.90 with targets at 84.50 & 86.20 in extension.
Alternative scenario
below 79.90 look for further downside with 78.90 & 77.80 as targets.
Comment
long positions above 79.90 with targets at 84.50 & 86.20 in extension.
• Middle Eastern seaborne crude exports recovered, easing physical supply constraint fears. • US commercial crude inventories unexpectedly increased while domestic production remained near records. • Technical indicators show WTI in neutral to oversold market conditions.
Crude Oil prices show a moderate pullback on Friday as news of increased exports from Gulf countries offsets concerns about stalled US-Iran peace negotiations.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – attracts some sellers during the Asian session on Friday, snapping a two-day winning streak and stalling the previous day's recovery from the vicinity of a nearly four-week low.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $91.75 during the early Asian trading hours on Friday. WTI flatlines after a two-day gain as the United States (US) mulled sending another aircraft carrier group to the Middle East.
The shortage pushing Crude Oil higher on Thursday is in diesel, gasoline and jet fuel, not in the barrels refiners buy to make them. Crude Oil has turned an early loss into a rally to near $91.50 since reports that China's refiners have stopped selling fuel abroad.
UOB Global Economics & Markets Research reports WTI crude settled at $90.42 per barrel and Brent at $103.53 per barrel on Wednesday, both extending strong year-to-date gains.
