FXstreet.com (Barcelona) - The barrel of the american benchmark for the light crude oil is inching higher on Monday, after the failed agreement between Norwegian oil producers and striking offshore workers and the Norwegian oil industry association over the weekend. The conflict, which has been on for three weeks so far, may end up in the total shut down of the country’s oils production.
It is worth noting that Norway is the world’s fifth largest oil exporter.
WTI is now advancing 0.40% at $84.67/bbl, with the next resistance at 85.45 followed by 86.05 and finally 86.55
On the downside, a breach of 84.00 would bring 83.30 and then 82.20