West Texas Intermediate (WTI) Crude Oil tested into the south end of the $81.00 handle on Monday as Crude Oil’s bullish break out of recent consolidation fizzles out.
WTI tested back underneath $81.00 as Crude Oil markets wobble. Forecasts of Chinese Crude Oil demand have flipped from hopeful to fearful.
as the small-scale countries shouldering the burden of voluntarily pumping less Crude Oil than possible rely on market participation to balance government budgets. WTI technical outlook WTI US Crude Oil is back to batting the $81.00 price handle, a key inflection point, after a failed bullish break out of recent consolidation. Price action holds above the 200-day Exponential Moving Average near $79.27, and short pressure could see an extended backslide towards early June’s bottom bids near $72.
is a group of 13 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When
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