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16 Sep 2015
WTI rallies near $46.00 on EIA
FXStreet (Edinburgh) - Crude oil prices are sharply advancing on Wednesday, taking the WTI to the boundaries of the $46.00 handle per barrel.
WTI stronger on EIA report
The barrel of the American benchmark for the light crude oil was boosted after the weekly report of the EIA showed crude stockpiles have decreased by 2.1 million barrels in the week ended on September 11th.
In addition, the growing weakness around the greenback in response to the lacklustre results from US inflation figures in August is also collaborating with the USD-denominated assets.
WTI levels to watch
The barrel of WTI is now up 2.53% at $45.72 facing the next hurdle at $46.04 (high Sep.10) ahead of $48.42 (high Sep.3) and finally %50.00 (psychological handle). On the other side, a break below $43.59 (low Sep.14) would open the door to $43.36 (low Sep.10) and then $43.21 (low Sep.2).
WTI stronger on EIA report
The barrel of the American benchmark for the light crude oil was boosted after the weekly report of the EIA showed crude stockpiles have decreased by 2.1 million barrels in the week ended on September 11th.
In addition, the growing weakness around the greenback in response to the lacklustre results from US inflation figures in August is also collaborating with the USD-denominated assets.
WTI levels to watch
The barrel of WTI is now up 2.53% at $45.72 facing the next hurdle at $46.04 (high Sep.10) ahead of $48.42 (high Sep.3) and finally %50.00 (psychological handle). On the other side, a break below $43.59 (low Sep.14) would open the door to $43.36 (low Sep.10) and then $43.21 (low Sep.2).