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19 Mar 2015
WTI remains below $44.00
FXStreet (Edinburgh) - The barrel of West Texas Intermediate is giving away yesterday gains, currently hovering over $43.80/85.
WTI hurt by dollar
Crude oil prices are reverting the positive performance on Wednesday following the dovish FOMC meeting. The re-emergence of a string buying interest around the US dollar is dragging prices lower, although managing to rebound from session lows in the $42.80 region.
A strong dollar plus concerns over the US supply gut remain the main drivers behind the generalized softer tone surrounding crude oil.
WTI key levels
The barrel of WTI is now retreating 1.93% at $43.80 and a drop below $42.75 (low Mar.19) would aim for $42.03 (low Mar.18) and then $40.07 (monthly low Mar.2009). On the upside, the initial resistance lines up at $44.68 (high Mar.19) ahead of $47.27 (high Mar.13) and finally $48.75 (high Mar.12).
WTI hurt by dollar
Crude oil prices are reverting the positive performance on Wednesday following the dovish FOMC meeting. The re-emergence of a string buying interest around the US dollar is dragging prices lower, although managing to rebound from session lows in the $42.80 region.
A strong dollar plus concerns over the US supply gut remain the main drivers behind the generalized softer tone surrounding crude oil.
WTI key levels
The barrel of WTI is now retreating 1.93% at $43.80 and a drop below $42.75 (low Mar.19) would aim for $42.03 (low Mar.18) and then $40.07 (monthly low Mar.2009). On the upside, the initial resistance lines up at $44.68 (high Mar.19) ahead of $47.27 (high Mar.13) and finally $48.75 (high Mar.12).