- Oil rebounds after Wednesday’s crash and after a meeting of authorities over the war in Ukraine.
- Without progress for a ceasefire, markets deteriorate.
- WTI rises above $110.00 a barrel of WTI.
The prices of Petroleum They accelerated the rise in the last hour after knowing the results of the talks between the foreign ministers of Ukraine and Russia. The barrel of WTI (spot – platforms) climbed back above $110.00 while European stock markets extended losses.
The price of oil gained momentum after talks between Ukraine and Russia will not reach concrete progress. This triggered a rise in the dollar and a worldwide fall in share prices.
News about the war Ukraine they are expected to continue to favor extreme volatility in the price of oil. The intensification of the conflict drives increases, which are trying to be counteracted by announcements of more production and the release of reserves.
The sharp rise in the price of crude oil has put central banks in trouble due to the impact on already high inflation. The Governing Council of European Central Bank will announce its decisions today, at the first meeting after the start of the war. In addition there will be inflation data for February from the US.
The WTI continues to be dominated by volatility. Significant supports loom at $105.00, then $100. On the upside, at $115 an important barrier can be found.
Technical levels
Source: Fx Street
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