The barrel of WTI trades on the defensive just above $65.00. Cautious tone prevails ahead of the key OPEC meeting tomorrow. Next on tap will be the US oil rig count by Baker Hughes on Friday. Prices of the barrel of the American reference for the sweet light crude oil are reverting yesterday’s gains and has dropped to the mid-$64.00s, where seem to have found some decent contention. WTI cautious ahead of OPEC The barrel of the West Texas Intermediate is prolonging the sideline theme so far this week, as market participants remain cautious ahead of the critical OPEC meeting in Vienna on Friday. WTI stays negative today in response to earlier comments by Saudi and Iranian oil ministers, both favouring a modest supply hike to be decided tomorrow at the cartel’s meeting. Regarding the likelihood of an output boost at the cartel’s meeting tomorrow, it is worth mentioning that recent news speaks of ranges from 300K bpd to as much as 1.5 mbpd. On Friday as well driller Baker Hughes will publish its weekly report on US oil rig count. WTI significant levels At the moment the barrel of WTI is losing 0.02% at $65.47 with the next support at $63.59 (low Jun.18) seconded by $61.77 (low Apr.6) and finally $60.03 (monthly low Mar.8). On the other hand, a breakout of $66.26 (21-day sma) would aim for $67.14 (high Jun.14) and then $67.84 (55-day sma). 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 WTI crude oil Technical Analysis: Black Gold boosted above $65.00 by Saudi Arabia FX Street 3 years The barrel of WTI trades on the defensive just above $65.00. Cautious tone prevails ahead of the key OPEC meeting tomorrow. Next on tap will be the US oil rig count by Baker Hughes on Friday. Prices of the barrel of the American reference for the sweet light crude oil are reverting yesterday's gains and has dropped to the mid-$64.00s, where seem to have found some decent contention. WTI cautious ahead of OPEC The barrel of the West Texas Intermediate is prolonging the sideline theme so far this week, as market participants remain cautious ahead of the critical OPEC meeting… 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.
