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OIL might pull back ahead of API inventory – US OIL Market Outlook – 23/02/2021

WTI Crude oil continued to push higher, gaining 5.50% in yesterday’s session and closing above $62pbl, as US production struggled to fully restart and some analysts estimating that the pandemic-caused supply glut will be drained by summer. API weekly crude inventory data expected today with technicals favoring further upside as $62 support level holds.

Support: 62 / 61.55 / 60
Resistance: 63 / 63.50

SquaredFinancial Daily Market Outlook


SquaredFinancial Review

Tuesday, 23 Feb, 2021 / 10:27

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