WTI Crude Oil Inches Higher

Tuesday, 25/08/2020 | 13:52 GMT-0

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WTI Crude oil rose slightly higher on Monday amid storms in the Gulf of Mexico.

The storm is threatening a complete shutdown of oil production units in the region.

Oil prices rose to intraday highs of 42.85 before pulling back.

Any declines could see prices stalling back near the 42.00 level.

The new sideways range between 42.00 and 43.00 is likely to form in the near term.

But overall, oil prices continue to remain directionless.

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Source: https://www.orbex.com/blog/en/2020/08/wti-crude-oil-inches-higher

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