Crude oil prices are trading over one percent, brushing aside the unexpected rise in weekly stockpiles.
The spot price of WTI crude oil is trading just a few points above the 40.00 handle, nearing the 41.00 level.
Price action so far is signaling further upside based on the ascending triangle pattern.
A continuation to the upside will see oil prices targeting a minimum of 46.50 at the very least.