- Oil prices rebound but without exceeding Friday’s highs.
- WTI advances more than 1%, although it is far from the highs.
The Oil prices are rising on Monday, favored in part by the rise in equity markets, given some expectation that the new variant of COVID, Ómicron, does not generate severe severity. A barrel of WTI rises 2.10%, and operates at $ 67.65.
Hours ago, the WTI had climbed to $ 68.70, but then trimmed gains. The very short-term tone continues to point to a bullish rebound. The sharp decline a few days ago appears to be history, but a daily close below $ 65.00 could signal further weakness ahead.
At the request of the Petroleum There is the data and the evidence at the moment that Ómicron would not be so serious, but there is still the uncertainty. The ongoing rebound from WTI has not yet been enough for a confirmation above $ 68.00, which would be a positive for crude.
The climate in the markets is expected to continue to dominate for the moment what happens with crude oil. Later in the week the US inventory figures will be released and on Friday the US inflation data, one of the last key reports, ahead of the Federal Reserve’s decision next week.
Technical levels
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