WTI

Crude oil prices flipped as the commodity erased the gains made on Wednesday. The lower high in price action is also potentially building the downside bias. For the moment, oil prices remain within the 41.00 and 38.83 levels.…
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Oil prices made a firm recovery, paring losses for a second day on Tuesday. Price action is back near the 41.00 handle once again. However, the current momentum and set up indicates that we could see a pullback. This will keep price…
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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…
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Oil prices took a nosedive on Monday, losing about 2.7% intraday. The declines came on the news about the Norwegian oil workers striking coming to an end. Furthermore, restrictions on Libya's largest oil field was also lifted, adding to…
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Crude oil prices closed on a soft note on Friday following a week of strong gains. Subsequently, price action closed bullish on a weekly basis. This comes after two weeks o declines. Still, prices are back at where they were, four…
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Oil prices were trading bullish on Thursday, gaining over 2% intraday. The gains pushed oil toward the 41.00 level before pulling back. Failure to breakout above this level cements the view of the strong resistance here. We could…
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Inventories Rise Last Week Crude oil prices have been trading broadly higher across the week. However, they ran into selling pressure mid-week in response to the latest report from the EIA. The Energy Information Administration reported…
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Crude oil prices are trading a tad weaker following the gains from Tuesday. However, with price now trading above the 38.83 region, we expect the current pullback to form support here. On the other hand, considering that the 41.00…
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WTI crude oil prices are trading higher for a second day rising over 3% on an intraday basis. The gains come after price managed to successfully close above the 38.835 price level. Following the strong bullish close above this level…
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Oil prices continue to move lower, marking a second consecutive week of declines. Following the breakdown below the 38.83 level of support, oil prices are now trading close to the 36.5 level of support. A retest of this support is…
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