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Hurricane Delta kept WTI Crude well supported – US OIL Market Outlook – 08/10/2020

SquaredFinancial

WTI Crude printed lower on the back of a bigger than expected buildup in inventories as reported by the EIA, while developments surrounding Hurricane Delta which is forecasted to intensify and turn into a category 3 storm as oil producers evacuated 183 offshore facilities – halting 1.5 Mbpd of output – kept prints supported with 40.70 resistance target in focus.

Support: 39.27 / 38.70
Resistance: 40/ 40.70

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Source: https://www.squaredfinancial.com/learn/daily-market-outlook/hurricane-delta-kept-wti-crude-well-supported-us-oil-market-outlook-08-10-2020
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