WTI
91.233
Today
-1.36%
5 Days
-8.15%
1 Month
+5.44%
6 Months
+2.86%
Year to Date
+59.21%
1 Year
+43.79%
Key Data Points
Opening Price
92.413Previous Closing Price
92.490WTI 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 rebounds on Wednesday after five straight days of losses as traders assess the latest Middle East developments and US inventory data.
TD Securities’ Ryan McKay and Bart Melek note West Texas Intermediate (WTI) Crude prices are holding relatively strong despite intense headline risk and elevated speculative positions, with CTAs (Commodity Trading Advisors) adding back length rather than cutting exposure.
ING strategists Ewa Manthey and Warren Patterson note that Brent and WTI have sold off sharply as expectations of higher Saudi crude exports, progress in US-Iran talks and a surprise US inventory build ease Middle East supply concerns.
Oil prices maintain their negative trend on Wednesday, with the price of the US benchmark West Texas Intermediate (WTI) barrel flatlining at the $89.00 area, its lowest level in nearly three weeks and 13% below last week’s highs.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – retains a negative bias for the fifth straight day on Wednesday, flirting with an over two-week low touched on Tuesday.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $89.00 during the early Asian trading hours on Wednesday. WTI falls after US President Donald Trump said the United States (US) held hours-long talks with Iran.
