We expected positive news surrounding OPEC+ compliance on output cuts and a bigger than expected drawdown in API inventories to spur bullish momentum on WTI Crude, however it failed to print above $42.80 weighed down by a report showing ample U.S. gasoline stockpiles as we look for an hourly close below $42.50 support level to favor further downside with 200 period SMA and 42 level as closest support targets.
Support: 42.50 / 42
Resistance: 42.80 / 43.50
