The prices of Petroleum they are falling on Monday, although like equity markets they trimmed losses after the formal start of trading on Wall Street. The barrel of WTI loses 1.30%, after having approached the minimum in months reached ten days ago.
Fears about the performance of the global economy, with signs of a slowdown on the rise, together with a stronger dollar, put downward pressure on oil prices.
The WTI barrel price (trading platforms) is at $83.85, having fallen as low as $81.70. The strong rebound is still not enough to move into positive territory for the day.
On September 8, the price fell to $80.90, the lowest level since January. The subsequent rally failed to break above $90.00 and is once again under pressure. The trend remains down, and below $80.90, the next support looms at $79.50.
Technical levels
Source: Fx Street
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