WTI and Brent crude oil prices fell for a second week amid growing concerns over the global economic rebound. A more aggressive Federal Reserve outlook amplified the worry following the recent series of yield curve inversions. Daily price for Brent Crude Oil is located inside Ichimoku cloud for the ranging market condition: the price is trying to break bearish triangle pattern with support level at 98.44 to below for the primary bearish ...
The price of oil pulls back from a fresh monthly high ($43.78) even though US Crude Inventories contract for six consecutive weeks, and energy prices may continue to consolidate over the coming days as the Organization of the Petroleum Exporting Countries (OPEC) gradually rollback the voluntary production cuts in response to COVID-19. more...
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