Oil Prices Volatile On OPEC Speculation

WTI Crude oil prices are trading volatile on Thursday. Price action rose to intraday highs of 28.32 while setting a low of 25.10.

The volatility comes amid speculation that Saudi Arabia and Russia are agreeing on cutting oil output by 20 million barrels.

Price action remains within the range of 28.00 and 22.00.

We expect this ranging price action to continue until there is a strong breakout from one of the levels.

Won't your trader friends like this?
Orbex
About the Author
“John Benjamin Resident Analyst at Orbex. John has over 8 years of experience specializing in the currency markets, tracking the macroeconomic and geopolitical developments shaping the financial markets. John applies a mix of fundamental and technical analysis and has a special interest in inter-market analysis and global politics.” [space height="10"] At Orbex, we are dedicated to serving our clients responsibly with the latest innovations in forex tools and resources to assist you in trading. Please Director at Visit our site for more details.

Leave a Reply

*