WTI rallies for the third day, eyeing a close above 2017 high around $112.20 By christianborjon Oil WTI Macroeconomics Sentiment Technical Analysis
printing gains. The market sentiment is upbeat, though it would be subject to Ukraine-Russia tussles as it happened in the last two weeks. WTI probes August 2013 $112.21 highs at press time, trading at $111.38 per barrel.On Wednesday, the Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, decided to continue the increase of 400,000 of its crude oil output, as reported by the statement.
Once the statement crossed wires, Brent crude approached $114.00 a barrel, while WTI hit $112.50, a 10-year high.
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