Supply crunch indicators please energy bulls. Lack of physical trading may limit momentum unless breaking $64.80 upside barrier. Despite major global markets enjoying Easter holidays, WTI is on the bids around $64.35 during early Monday. The energy benchmark grew as recent releases from the Baker Hughes becomes another data signaling supply crunch after EIA and API inventory reports registered stock draws in their latest reports. The US oil rig counts for the week ended on April 18 dropped for the first time in three weeks to 825 from 833 as per the Baker Hughes’ weekly rig count data. The rig counts join inventory draws from the American Petroleum Institute (API) and the Energy Information Administration (EIA) for the week ended on April 12. In addition to supply crunch indicators, the geopolitical crisis in Libya, coupled with hard US sanctions on Iran, also favor the upside of the black gold. With the major global markets out for Easter holidays, investors may follow price action on the electronic trading for fresh impulse. WTI Technical Analysis Unless clearing $64.80 upside barrier, including present month high and August 2018 lows, the energy benchmark can’t aim for $65.00 and October 23 low around $65.70. As a result, $63.50 and an area including April 03 high and April 16 lows near $63.00 continues to gain sellers’ attention. Given the prices slid beneath $63.00, $61.90 and 200-day simple moving average (SMA) level of $61.10 may come back on the chart. 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 No more waivers: The US will try to force Iranian oil exports to zero – Washington Post FX Street 4 years Supply crunch indicators please energy bulls. Lack of physical trading may limit momentum unless breaking $64.80 upside barrier. Despite major global markets enjoying Easter holidays, WTI is on the bids around $64.35 during early Monday. The energy benchmark grew as recent releases from the Baker Hughes becomes another data signaling supply crunch after EIA and API inventory reports registered stock draws in their latest reports. The US oil rig counts for the week ended on April 18 dropped for the first time in three weeks to 825 from 833 as per the Baker Hughes' weekly rig count data. The rig… 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.