WTI Crude Oil Gives Back The Gains, But Holds Steady

oil forex

WTI crude oil prices are down over 28% on the day again.

This comes just after the commodity marked a strong rebound following last week’s drop into negative territory.

The declines in crude oil, however, keep prices within the range of 18.62 and 12.34.

The new declines come on the back of oversupply concerns.

As long as prices hold near the 12.34 level, we expect the declines to be limited, but expect volatility to rise on a breach below this level.

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“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.

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