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5 May 2015
WTI off highs, near $61.00
FXStreet (Edinburgh) - The barrel of West Texas Intermediate is rallying more than 3% and is now coming down from fresh 2015 peaks beyond the $61.00 mark.
WTI in multi-month tops
The barrel of WTI is trading in levels last seen in mid-December in the boundaries of the $61.00 mark following potential supply disruptions in Libya, after strikes continue to hit Libyan ports.
In addition, the European Commission has revised higher its economic growth forecasts for the region and the US services sector surprised investors to the upside.
WTI relevant levels
The barrel of WTI is advancing 3.72% at $60.71 with the next up barrier at $61.10 (high May 5) followed by $61.34 (high Dec.10) and then $63.03 (high Dec.8). On the downside, a break below $58.63 (low May 5) would aim for $58.45 (low May 4) and finally $58.37 (low Apr.30).
WTI in multi-month tops
The barrel of WTI is trading in levels last seen in mid-December in the boundaries of the $61.00 mark following potential supply disruptions in Libya, after strikes continue to hit Libyan ports.
In addition, the European Commission has revised higher its economic growth forecasts for the region and the US services sector surprised investors to the upside.
WTI relevant levels
The barrel of WTI is advancing 3.72% at $60.71 with the next up barrier at $61.10 (high May 5) followed by $61.34 (high Dec.10) and then $63.03 (high Dec.8). On the downside, a break below $58.63 (low May 5) would aim for $58.45 (low May 4) and finally $58.37 (low Apr.30).