The oil prices they are falling more than 1% on Thursday, erasing gains from Wednesday, when they hit new multi-day highs. The somewhat cautious stability in the financial markets has its replica in the oil market.
The barrel dand WTI (trading platforms) reached $89.60 on Wednesday, the highest since September 5. It recently posted a new intraday low at $86.46 and remains near the bottom with a negative tone for the day.
The recovery of crude oil prices lost strongly to a rise in the dollar and a certain climate of calm and caution in the stock markets, with the expectation placed on the new increases in interest rates that are expected next week, among other central banks , of the Federal Reserve and the Bank of England.
Wall Street futures trade on neutral ground, ahead of US economic data including retail sales, industrial production and jobless claims.
The economic outlook remains complex, in the face of signs of a slowdown, sharp drops in consumer confidence on both sides of the Atlantic and with a monetary adjustment on the way to deepening to face the rise in inflation. This is reflected in oil prices, which are falling for the fourth consecutive month, although moving away from recent lows.
Technical levels
Source: Fx Street
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