Oil prices traded sideways once again overnight. A much lower US dollar was offset by OPEC’s monthly report which lowered oil demand and a surprise spike in US API Crude Inventories above 5 million barrels. The OPEC report’s impact was negated as it stated that some members would have output challenges over the next few months. Brent crude was unchanged at $83.30 overnight, with WTI almost unchanged at $80.55 a barrel.
Oil is Currently trading on a higher note.. Will take a correction from here. Sell is suggestion with proper risk management.
Oil is Currently trading on a higher note.. Will take a correction from here. Sell is suggestion with proper risk management.