WTI Crude printed above $40 pbl in yesterday’s session on the back of positive comments out of OPEC+ and continued Saudi-Russian collaboration which have so far resulted in high levels of member compliance. A resurgence of Covid-19 cases in Europe with increasing possibilities of national lockdowns should keep higher prints capped, with 39.27 as the closest support target ahead of weekly API inventory data.
Support: 39.27/ 38.70
Resistance: 40 / 40.70
