20 Mar 2015
WTI off highs, around $46.00
FXStreet (Edinburgh) - The barrel of the American benchmark for the light crude oil is rallying on Friday, currently around $46.00 after hitting multi-day highs above $47.00.
WTI boosted by USD softness
Crude oil prices are closing the first week with gains after five consecutive weeks closing in the red territory. The offered tone irrupted around the US dollar, resuming the downtrend post-FOMC and pushing WTI beyond the $47.00 mark.
Collaborating with the downside, driller Baker Hughes reported that US oil rigs in use decreased by 41 to 825 in the last week.
WTI key levels
The barrel of WTI is now advancing 4.66% at $46.01 with the next hurdle at $47.27 (high Mar.13) followed by $48.75 (high Mar.12) and finally $49.05 (high Mar.11). On the other hand, a breach of $42.03 (low Mar.18) would aim for $40.07 (monthly low Mar.2009) and then 34.03 (monthly low Feb. 2009).
WTI boosted by USD softness
Crude oil prices are closing the first week with gains after five consecutive weeks closing in the red territory. The offered tone irrupted around the US dollar, resuming the downtrend post-FOMC and pushing WTI beyond the $47.00 mark.
Collaborating with the downside, driller Baker Hughes reported that US oil rigs in use decreased by 41 to 825 in the last week.
WTI key levels
The barrel of WTI is now advancing 4.66% at $46.01 with the next hurdle at $47.27 (high Mar.13) followed by $48.75 (high Mar.12) and finally $49.05 (high Mar.11). On the other hand, a breach of $42.03 (low Mar.18) would aim for $40.07 (monthly low Mar.2009) and then 34.03 (monthly low Feb. 2009).