WTI
98.659
Today
+0.49%
5 Days
+6.96%
1 Month
+2.77%
6 Months
+21.72%
Year to Date
+72.17%
1 Year
+72.70%
Key Data Points
Opening Price
98.059Previous Closing Price
98.173WTI 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.
West Texas Intermediate (WTI) oil price gains ground after registering modest loses in previous day, trading around $98.40 per barrel during Asian hours on Tuesday.
Unconfirmed reports of new US strikes on Iran have turned WTI higher on the session, and it's on track for an eighth straight gain. It has climbed from a session low just above $96.50 to just above $99.00, its highest since September 16.
A waiver of new Russia sanctions has WTI on track for its first losing session in eight, though the price hasn't left Friday's range. Friday's high just above $99.00 was the highest since mid-September.
Commerzbank’s research team highlights that Brent and WTI have rallied on renewed Middle East and Russian supply risks, with Brent near USD110 and Oil up strongly year-to-date.
Crude Oil trades moderately lower on Monday as market hopes that US President Donald Trump’s waiver on Russia’s sanctions will increase global crude supply have eased concerns about the stalled Middle East conflict.
• US WTI crude futures fell due to Russian fuel sanctions waivers. • Technical profit-taking amplified downward pressure after encountering overhead price resistance. • Slower global demand growth reinforced expectations of balanced supply-demand outlook.
