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WTi crude oil settles at $80.61

WTi crude oil settles at $80.61

The price of WTI crude oil settled at $80.61. The price is up $0.85 or 1.07%. The gains come despite another huge build in inventory levels. The build this week came in at 8.408M barrels vs -0.593M drawdown expected. Last week, the build was 18.962M barrels.

Looking at the daily chart, the high reached yesterday stalled at the 100 day MA currently at $82.57. Ultimately, if the price is to go higher, getting and staying above that level is needed to increase the bullish bias.

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Posted: Jan 19 2023, 20:13
Author Name: forexlive
Views: 110624

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