- Oil and equities remain under pressure amid cautious markets.
- WTI is on track to close the week down 5%.
The WTI barrel futures fall 2.25% on Friday, before the formal opening of Wall Street. The price dropped to $87.25, the lowest level since February 3 before finding support and returning above $88.00.
The negative climate in the markets continues to predominate among operators. Futures on the main Wall Street indices have erased gains and point to a neutral open.
Oil market expectations move between diverse forces. On the one hand, possible supply problems in the event of an armed conflict on the Ukraine border is a bullish factor. While the normalization of production in various countries of the Organization of Petroleum Exporting Countries and allies (OPEC+) It is a factor that can begin to weigh more and more.
Oil prices are on track to close the week in negative, correcting downwards from highs in years. The WTI It is down nearly 5% from levels a week ago, and snaps an eight-week winning streak.
Technical levels
Source: Fx Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
