WTI: Direction of the next major move unclear given elevated uncertainty – BMO
Source Fxstreet
West Texas Intermediate (WTI) continues to trade in a relatively tight band of $75 to $80 per barrel. Strategists at the Bank of Montreal analyze Oil’s outlook.
Searching for direction
Although it appears that WTI Oil is sitting comfortably at current levels for now, we suspect that it may not last.
Given crude Oil’s historic price volatility, prices may eventually break out of the current trading range, but we are admittedly not sure of the direction of the next major move given elevated uncertainty.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
On November 4, gold prices (XAUUSD) surged during the Asian trading session. As the Democratic Party won the U.S. midterm elections, the U.S. Dollar Index and U.S. Treasury yields weakene
Get the latest gold price analysis, forex gold insights, and XAU/USD analysis for November 4, 2026. Read on for the details.
Brent settled at $103.60, its lowest close since October 7 and an 8% weekly drop on US-Iran talks. Yet API crude stocks fell 5.267 million barrels versus a 2.1 million build expected.
AMD Q3 revenue rose 45% to $13.38B, data center jumped 97% to $8.5B, and EPS hit $2.09; Q4 guidance is $17B. The stock rose 3.65% to $483.90, but free cash flow was $554M versus $1.97B expected.
US Dollar Index (DXY) faces some selling pressure near 101.25 during the early Asian session on Wednesday. Traders will closely monitor the US midterm election outcomes later in the day for fresh impetus.
Related Instrument
