WTI Futures: Flat Above $59.50 As Global Demand Concerns

WTI Futures

WTI Futures: Front-month WTI continue to consolidate within recent ranges, having spent practically all of Thursday’s session so far between the $59.00 and $60.00 levels. Crude oil market participants continue to juggle positivity about the prospect for a global economic rebound as a result of vaccines (led by strong growth in the US), against near-term demand concerns as a result of rising infection rates in a number of key crude oil-consuming countries. For now, WTI is trading just above the $59.50 mark and is flat on the session.

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WTI Futures

Crude Oil Futures Today: Extra Gains Not Ruled Out

Crude Oil Futures

Crude Oil Futures Today: CME Group’s flash data for Crude Oil futures markets noted traders added around 8.3K contracts to their open interest positions on Wednesday, reversing two consecutive daily pullbacks. Volume followed suit and rose for the second straight day, this time by around 122.3K contracts.

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Crude Oil Futures

Crude Oil Weekly Price Forecast – Crude Oil Markets Walk Trendline

WTI Futures

Crude Oil Weekly Price Forecast: The West Texas Intermediate Crude Oil market has initially pulled back during the course of the week but then rallied again to show signs of resiliency. The $60 level looks to be supportive and of course we have a significant amount of support based upon that longer-term trendline.

Read moreCrude Oil Weekly Price Forecast – Crude Oil Markets Walk Trendline

WTI Futures