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Crude oil prices are moving lower after an overnight drop spurred by Saudi Arabia's price cut for June deliverables. The technical outlook appears troublesome as well, with key support giving way.
Crude oil prices may continue to rise if bulls can push above the April high. A rosy fundamental backdrop will likely help to fuel bullish sentiment.
WTI oil has been relatively quiet for the past few weeks, but it’s not likely it will stay like that much longer; levels and lines to watch for a breakout.
Crude oil prices are modestly higher as traders await potential details on a Russian oil embargo in the next round of EU sanctions. Meanwhile, China’s lockdown woes continue to weigh on the demand ...
Oil prices in the Brent and WTI benchmarks steadied this morning after dropping on Monday as Covid jitters take hold as Beijing locks down. The API and EIA inventory data sets are in focus this week.