ðĒ CL OIL H4 ðĒ 14 March 2024
TVC:USOIL
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ðĒ CL OIL, H4 ðĒ 14 March 2024
Crude oil prices climbed higher following better-than-expected inventory reports, with US Crude oil inventories declining more than anticipated according to Energy Information Administration (EIA) data. Investors await the International Energy Agency's monthly report for further insights into supply and demand dynamics, following OPEC's latest forecast.
Oil prices are trading higher while currently testing the resistance level. Suggesting the commodity might extend its gains after breakout.
Resistance level: 80.20, 84.10ð
Support level: 78.00, 75.95ð
Crude oil prices climbed higher following better-than-expected inventory reports, with US Crude oil inventories declining more than anticipated according to Energy Information Administration (EIA) data. Investors await the International Energy Agency's monthly report for further insights into supply and demand dynamics, following OPEC's latest forecast.
Oil prices are trading higher while currently testing the resistance level. Suggesting the commodity might extend its gains after breakout.
Resistance level: 80.20, 84.10ð
Support level: 78.00, 75.95ð