Crude Oil Price News & Forecast: WTI critical indicator highest since 2016
Oil news: US energy-related high yield bond spread hits highest since 2016
The US energy-related high yield bond spread has widened to 826 basis points, the highest level since 2016, Jeroen Blokland, Portfolio Manager for the Robeco Multi-Asset funds, Robeco ONE and Robeco Pension Return Portfolio, tweeted on Monday.
Back then, spreads had risen amid the sell-off in oil prices. The black gold had dropped below $30 in early 2016. Read more...
Crude Oil (WTI) Intraday: consolidation in place
Pivot (invalidation): 58.15
Our preference
Short positions below 58.15 with targets at 57.65 & 57.35 in extension.
Alternative scenario
Above 58.15 look for further upside with 58.65 & 59.20 as targets.
Comment
As long as 58.15 is resistance, expect a return to 57.65.
WTI stuck in range around $58 despite trade optimism
WTI (oil futures on NYMEX) posts small gains near $ 58 mark in the European session this Monday, lacking a clear directional bias despite improved risk appetite on fresh US-China trade optimism.
However, the sentiment around the black gold remains somewhat underpinned by the fresh hopes of a US-China trade deal following the recent upbeat comments from the US and China while Beijing’s gesture to raise the penalties on the Intellectual Properties (IP) theft also rekindled expectations of a trade truce. Read more...
WTI Levels to watch
Author
Yohay Elam
FXStreet
Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.
