Prices of the WTI extends the rally above the $45.00 mark. Optimism on higher demand boosts crude oil prices. The EIA’s weekly report on crude oil supplies comes up next. The rally in crude oil prices remains well and sound for yet another session and pushes the WTI to levels well above the $45.00 mark per barrel on Wednesday. WTI firmer ahead of weekly data Prices of the barrel of the West Texas Intermediate advance to levels last seen in March beyond the $45.00 yardstick on the back of firm prospects of higher demand in the next months. This view gathers extra pace following recent news that a coronavirus vaccine could be delivered in the near-term, underpinning the idea of a strong recovery in the global economy. Also propping up the oil rally emerges the probability of further monetary/fiscal stimulus under the Biden presidency and rising bets that the OPEC+ could postpone its tapering for an extra three months. Late on Tuesday, the API reported an unexpected 3.8 million barrels build during last week, adding to the previous’ week increase in supplies. Later on Wednesday, the EIA will release its report on inventories (0.768 million barrels prev.). WTI significant levels At the moment the barrel of WTI is up 1.17% at $45.31 and faces the next hurdle at $45.67 (monthly high Nov.25) seconded $48.39 (monthly high Mar.4) and finally $54.45 (monthly high Feb.20). On the downside, a breach of $43.04 (high Nov.11) would aim to $40.12 (weekly low Nov.16) and then $37.09 (low Nov.6). 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 US: Real GDP expands by 33.1% in Q3 vs. 33.2% expected FX Street 1 year Prices of the WTI extends the rally above the $45.00 mark. Optimism on higher demand boosts crude oil prices. The EIA’s weekly report on crude oil supplies comes up next. The rally in crude oil prices remains well and sound for yet another session and pushes the WTI to levels well above the $45.00 mark per barrel on Wednesday. WTI firmer ahead of weekly data Prices of the barrel of the West Texas Intermediate advance to levels last seen in March beyond the $45.00 yardstick on the back of firm prospects of higher demand in the next months. This view… 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.