- Oil prices rise despite fall in stock markets and improvement of the dollar.
- WTI barrel moves away from recent lows.
Oil prices are rising on Thursday, despite lower equity markets and a stronger dollar. US inventory data on Wednesday showed a larger-than-expected drop.
The WTI barrel price (trading platforms) is trading at the $89.50 zone, the highest level in two days. In this way, it extends the rebound from the low in the month that it reached this week near $85.00.
If the increases are extended, the price of WTI will face significant resistance around $90.00, which, if it gives way, could lead to more profits. In the opposite direction, immediate support has moved to $88.30, followed by $87.85.
Technical levels
Source: Fx Street
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