WTI crude oil prices fell for a second day as a resurgence in coronavirus cases around the globe weighed on the energy demand outlook. EIA’s crude inventory report in focus.
The West Texas Intermediate Crude Oil market has initially tried to rally during the trading session on Friday, but then broke down a bit to slice through the 50 day EMA.
The West Texas Intermediate Crude Oil market has rallied a bit during the trading session on Thursday, as we continue to go back and forth in trying to find some type of momentum
Crude oil prices may rise on firming hopes for a near-term round of US fiscal stimulus coupled with firming PMI data. A soggy demand outlook might cap gains however.
The West Texas Intermediate Crude Oil market initially tried to rally during the trading session on Wednesday but found resistance above the 200 day EMA as we awaited the inventory figures.
The West Texas Intermediate Crude Oil market initially pulled back just a bit during the trading session on Tuesday but found a bit of buying later in the day
WTI crude oil prices attempted to break a key resistance level at US$ 41.50, buoyed by a weaker US Dollar and US stimulus hopes. Wednesday’s release of EIA crude inventory data is in focus next.
