Commodities Analysis by Investing.com (Damian Nowiszewski) covering: Crude Oil WTI Futures. Read Investing.com (Damian Nowiszewski)'s latest article on Investing.com
Weak Chinese demand and rising U.S. output weigh heavily on prices.is under pressure, with WTI prices flirting dangerously close to the pivotal $67 per barrel mark. This level, repeatedly tested by buyers, now stands as the last line of defense against a potential wave of bearish momentum.
The nomination of Chris Wright to head the Department of Energy only strengthens the case for expanded production in the year ahead.Meanwhile, OPEC+ has extended its production cuts until at least April, delaying planned increases to stem falling prices.
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