The prices of Petroleum they are falling on Wednesday, despite the stability of the dollar in the lowest zone in months. The rise due to fears after the impact of a missile in Poland were left behind.
The oil price turned definitely negative for the day after the US retail sales report showed numbers above expectations. EIA oil inventory figures will be released later on Wednesday.
On Tuesday, prices registered significant variations after the news of the impact of a missile in Poland. Then, with the passing of the hours and after talking about a shot from the Ukraine, the price calmed down. On Wednesday the attack of a drone on an Israeli oil tank was known.
The WTI barrel (trading platforms) recently fell to $83.94, very close to the recent low. A firm break of $84.00 will add negative pressure, enabling a larger pullback. To the upside, if it persistently exceeds $86.80, it could prolong the recovery.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
