- Oil prices rise on Thursday despite the decline in equity markets.
- WTI barrel continues in a wide price range, lateralizing.
The prices of Petroleum they are rising on Thursday although they have moved away from the daily highs. The advance is greater than 2%, and occurs in a context of expectations for a recovery in Chinese demand and in the face of an escalation in geopolitical tensions due to the war in Ukraine.
The barrel of WTI (trading platforms) is up 2.40% and stands at $85.00, after reaching a high of $86.01. In this way, it continues to move within a range with support between $82.00 and $82.50 and resistance that can be seen in the neighborhood of $86.50.
Another factor contributing to the advance on Thursday is the downward correction of the US dollar, although after the opening of Wall Street it began to regain strength. DXY is down 0.14% and is back above 111.20.
The Dow Jones is losing 0.41%, while the Nasdaq is down more than 1%. Metals hit a high for the day but then erased gains. XAUUSD is hovering around $1,670, while XAG/USD is unable to move away from $19.50.
Technical levels
Source: Fx Street
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