🛢 CL OIL, H4 🛢 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, 84.10📉
Support level: 78.00, 75.95📈
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, 84.10📉
Support level: 78.00, 75.95📈