- A barrel of WTI remains offered near $ 46.00.
- API reported an accumulation of nearly 1.15 million barrels late on Tuesday.
- Below is the weekly EIA report on US crude supply.
WTI barrel prices they are sailing through the zone of 2-day highs near the $ 46.00 level on Wednesday.
WTI now attentive to data
After two daily setbacks in a row, the barrel of the US benchmark for light sweet crude regained its smile on Wednesday and managed to advance above $ 46.00.
Prospects for increased demand in the coming month appear to offset concerns regarding the coronavirus pandemic and its potential impact on the oil industry and the global economy, giving traders an extra dose of optimism following the somewhat announcement. disappointing from OPEC +.
Wednesday’s positive performance outstrips API-reported build-up in US crude oil supplies of more than 1.1 million barrels over the past week. Later in the American session, the EIA will publish its weekly report on crude inventories.
Technical levels
Right now, a barrel of WTI is gaining 0.90% at $ 45.99 and is facing next resistance at $ 46.66 (December 4 monthly high) seconded by $ 48.39 (March 4 monthly high) and finally $ 54.45 (high. February 20). On the other hand, a gap of $ 43.94 (December 2 monthly low) would expose $ 43.04 (November 11 high) ahead of $ 40.12 (November 16 weekly low)
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