- Oil prices continue to decline on Tuesday, continuing Monday’s lows.
- WTI barrel looks closely again at the lows of this year.
Oil prices are falling on Tuesday, again after plunging on Monday. The falls exceed 1%, placing a large part of the prices at their lowest in one week and close to the floor of 2022.
The latest US economic data, despite being higher than expected, did not help oil prices given the expectation that the Federal Reserve’s monetary tightening would continue. Nor to shares on Wall Street, which are falling again after the significant on Tuesday.
The pessimism of the equity markets is reflected in the oil market. In turn, the optimism that followed the news of a reopening of the Chinese economy gradually softened, taking momentum out of oil prices. Later on Tuesday, API (American Petroleum Institute) will release weekly figures for US oil reserves.
The Oil prices had the biggest daily drop in two weeks on Monday. The barrel of WTI (trading platforms) on Tuesday is below $76.00, at a low since November 28 and could have the lowest daily close in almost a year. The price is approaching the 2022 intraday low reached last week at $73.48.
technical levels
WTI US OIL
Panorama | |
---|---|
Last Price Today | 76.1 |
Today’s Daily Change | -1.32 |
Today’s Daily Change % | -1.70 |
Today’s Daily Open | 77.42 |
Trends | |
---|---|
20 Daily SMA | 81.64 |
SMA of 50 Daily | 84.27 |
SMA of 100 Daily | 87 |
SMA of 200 Daily | 96.6 |
levels | |
---|---|
Previous Daily High | 82.74 |
Minimum Previous Daily | 76.86 |
Previous Weekly High | 83.3 |
Previous Weekly Minimum | 73.66 |
Maximum Prior Monthly | 92.92 |
Minimum Prior Monthly | 73.66 |
Daily Fibonacci 38.2% | 79.1 |
Daily Fibonacci 61.8% | 80.49 |
Daily Pivot Point S1 | 75.27 |
Daily Pivot Point S2 | 73.12 |
Daily Pivot Point S3 | 69.39 |
Daily Pivot Point R1 | 81.16 |
Daily Pivot Point R2 | 84.89 |
Daily Pivot Point R3 | 87.04 |
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.