The barrel of WTI edges higher to the vicinity of $49.00. OPEC+ plan a potential oil production cut in February. The API will release its weekly report later in the NA session. Crude oil prices reverse Monday’s losses and manage regain the $48.00 mark and above per barrel on turnaround Tuesday. WTI looks to data, OPEC+ Prices of the barrel of the American benchmark for the sweet light crude oil regained the composure and the upside on Tuesday after bottoming out near the $47.0 mark at the beginning of the week. Rumours that the OPEC+ could be mulling the idea of curtailing the oil production next month (by around 500K barrels per day) are behind the daily recovery in prices of the WTI, all coupled with the better sentiment in the risk complex. Later in the NA session, the API will publish its usual weekly report on crude oil stockpiles ahead of tomorrow’s same report by the EIA. WTI significant levels At the moment the barrel of WTI is gaining 2.99% at $48.75 and faces the next hurdle at $49.80 (monthly high Jan.4) seconded by $50.00 (psychological level) and finally $54.45 (monthly high Feb.20). On the downside, a breach of $47.20 (monthly low Jan.4) would expose $46.18 (low Dec.23) ahead of $43.94 (monthly low Dec.2). 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 S&P 500 opens with small gains near 3,700 FX Street 1 year The barrel of WTI edges higher to the vicinity of $49.00. OPEC+ plan a potential oil production cut in February. The API will release its weekly report later in the NA session. Crude oil prices reverse Monday’s losses and manage regain the $48.00 mark and above per barrel on turnaround Tuesday. WTI looks to data, OPEC+ Prices of the barrel of the American benchmark for the sweet light crude oil regained the composure and the upside on Tuesday after bottoming out near the $47.0 mark at the beginning of the week. Rumours that the OPEC+ could be mulling the idea… Regulated 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.