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Crude oil prices are retreating after rising on Monday. China's battle against Covid remains a bearish drag despite a breakdown in talks between Tehran and Washington. US inventory reports are in focus.
Crude oil prices are staging a recovery in Asia-Pacific trading after a sharp drop on Wednesday amid broadening Chinese Covid lockdowns. US inventory data from the EIA is in focus.
Oil prices plunged more than 6% this week with WTI now testing a critical support pivot- a BIG moment for Crude. The levels that matter on the weekly technical chart.
WTI oil is testing the 200-day moving average again, last time it failed; levels and scenarios to know for the days ahead.
Oil prices surged more than 5% off the lows with WTI reversing sharply off key technical support- is a low in place? The levels that matter on the weekly chart.