Crude Oil Price News and Forecast: WTI prices came under pressure during the American trading hours


WTI slumps to fresh multi-week lows below $57.50 despite large drop in US oil stocks

Crude oil prices came under pressure during the American trading hours on Wednesday with the barrel of West Texas Intermediate (WTI) dropping to its lowest level since early December at $57.38. As of writing, the WTI was trading at $57.40, erasing 1.22% on a daily basis.

Read more...

OPEC raises 2020 oil demand growth outlook by 0.14 million bpd to 1.22 million bpd

The Organization of the Petroleum Exporting Countries (OPEC) has raised its forecast for global oil demand growth in 2020 by 0.14 million barrels per day (bpd) to 1.22 million bpd, the organization's latest oil market report showed.

Read more...

WTI

Overview
Today last price 57.96
Today Daily Change -0.18
Today Daily Change % -0.31
Today daily open 58.14
 
Trends
Daily SMA20 60.81
Daily SMA50 58.92
Daily SMA100 57.18
Daily SMA200 57.82
 
Levels
Previous Daily High 58.73
Previous Daily Low 57.75
Previous Weekly High 65.67
Previous Weekly Low 58.69
Previous Monthly High 62.38
Previous Monthly Low 55.41
Daily Fibonacci 38.2% 58.36
Daily Fibonacci 61.8% 58.12
Daily Pivot Point S1 57.68
Daily Pivot Point S2 57.23
Daily Pivot Point S3 56.7
Daily Pivot Point R1 58.66
Daily Pivot Point R2 59.19
Daily Pivot Point R3 59.64

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Feed news

Latest Forex News

Editors’ Picks

EUR/USD pressured under 1.11 amid virus fears, ahead of the ECB

EUR/USD is trading below 1.11, under pressure as fears of the coronavirus weigh on markets. The ECB is set to leave rates unchanged and provide views about the current economic environment. 

EUR/USD News

GBP/USD consolidates gains above 1.31 after parliament seals Brexit

GBP/USD is trading above 1.31, consolidating its gains. The House of Lords gave its final seal to Brexit. Speculation ahead of the BOE's decision continues after upbeat data diminished chances for an imminent move.

GBP/USD News

Forex Today: Coronavirus fears spread and weigh on markets, Aussie surges, all eyes on the ECB

Chinese authorities have shut down access links to Wuhan, the large provincial capital where the coronavirus originates from. The news, coming ahead of the Chinese Lunar New Year, is weighing on markets. 

Read more

WTI hits 7-week low, potential bull RSI divergence on 1H

WTI oil fell to $55.68 soon before press time, the lowest level since Dec. 3, having declined by 3.73% on Wednesday. The black gold has found acceptance below $56.60, which is the 61.8% Fibonacci retracement (one of the golden ratio) of the rally from $51.03 to $65.62.

Oil News

USD/JPY drops to fresh eight-day lows near 109.50

USD/JPY extends losses and trades close to an eight-day low near 109.50 in a relatively risk-off environment, with the media headlines full of the coronavirus as it spreads internationally. Bears can look to the golden ratio around mid-108s.

USD/JPY News

Forex MAJORS

Cryptocurrencies

Signatures