We still see WTI Crude Oil moving higher but we are waiting for prices to pass through resistance at $55.6 to continue the upward momentum. Yesterday US Crude oil inventories came in at 9281K vs 2495K putting downward pressure on on prices but a potential deal between the UK and EU being passed through UK parliament on Wednesday could increase optimism on the future growth of the global economy hence boosting oil prices.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.