Libyan news combined with USD buying accelerates the declines in WTI. But downside holds amid expectations of a draw in the US crude inventories. WTI (oil futures on NYMEX) witnessed good two-way businesses so far this Wednesday, now facing a double whammy amid risk-off in the European equities on one hand while reports that Libya announced re-opening of terminals accentuated the retreat from near $ 74 handle. Libya’s Tripoli-based National Oil Corporation (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, Reuters reported earlier today. Meanwhile, escalation of the trade war between the US and China, after the US threatened to impose tariffs on extra $ 200 billion worth of Chinese goods, spooked investor sentiment and knocked-off the higher-yielding black gold. However, the downside appears cushioned amid increased expectations that the EIA weekly crude stockpiles data will show a drawdown of near 4 million barrels last week. The EIA data will be reported at 1430 GMT. WTI Technical Levels: Swissquote Bank Research Team sees WTI turning down. “Short positions below 74.00 with targets at 73.20 & 72.90 in extension. Above 74.00 look for further upside with 74.40 & 74.80 as targets.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next BoC: 25bp rate hike coming – TDS FX Street 4 years Libyan news combined with USD buying accelerates the declines in WTI. But downside holds amid expectations of a draw in the US crude inventories. WTI (oil futures on NYMEX) witnessed good two-way businesses so far this Wednesday, now facing a double whammy amid risk-off in the European equities on one hand while reports that Libya announced re-opening of terminals accentuated the retreat from near $ 74 handle. Libya's Tripoli-based National Oil Corporation (NOC) said on Wednesday that four export terminals were being reopened after eastern factions handed over the ports, Reuters reported earlier today. Meanwhile, escalation of the trade war… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.