WTI Crude Oil Pares Losses

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Oil prices are back in the green, rising as much as close to 2% intraday.

The gains come just a day after oil prices fell sharply to lows near the 39 level.

The rebound comes on the back of positive trade data from China.

Still, we could expect to see a back and forth movement in the oil markets amid the current economic outlook.

To the upside, a continuation higher will see the 41.00 level being challenged once again.

For the moment, oil prices are firmly entrenched within the 41 and 38.835 levels.

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