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.
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WTI declines below $82.50 as oil inventories rise far more than expectedWest Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $82.45 during the early Asian trading hours on Thursday. WTI declines on a larger-than-expected build in US crude oil inventories. Traders will closely monitor the developments surrounding US-Iran talks for fresh impetus.
Here is what you need to know on Thursday, August 13:
WTI remains below $80.50 as traders monitor diplomatic efforts to reopen HormuzWest Texas Intermediate (WTI) oil price remains subdued for the third successive day, trading around $80.30 per barrel during the Asian hours on Friday. Crude oil prices edge lower as investors adopt a wait-and-see approach, closely monitoring diplomatic attempts to reopen the Strait of Hormuz.
West Texas Intermediate (WTI) oil price remains subdued for the third successive day, trading around $80.30 per barrel during the Asian hours on Friday. Crude oil prices edge lower as investors adopt a wait-and-see approach, closely monitoring diplomatic attempts to reopen the Strait of Hormuz.
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