Crude oil prices remain sidelined this week at/around the $70.00 area. Attention shifted to fresh US-Iran effervescence on oil exports. API, EIA weekly reports coming up later today and tomorrow. Prices of the barrel of the American benchmark for the sweet light crude oil are prolonging the consolidative theme prevailing in the last sessions. WTI now looks to Iran, US supplies Prices of the West Texas Intermediate are in a consolidative-mode during the first half of the week, navigating the vicinity of the critical $70.00 mark and somewhat showing some complacency despite the recent comments from both President Trump and Iran’s Rouhani. Both the barrel of Brent crude and the WTI remained apathetic amidst Iranian threats to close the Strait of Hormuz, comments by Rouhani and Trump’s reply via Twitter. Later in the day the American Petroleum Institute (API) will publish the weekly report on US crude oil stockpiles ahead of tomorrow’s report by the DoE and the US oil rig count by driller Baker Hughes on Friday. WTI significant levels At the moment the barrel of WTI is up 0.65% at $69.48 facing the next hurdle at $70.56 (high Jul.23) followed by $71.59 (21-day sma) and then $72.80 (high May 22). On the breakdown, a breach of $67.59 (100-day sma) would aim for 67.08 (low Jul.18) and finally $63.59 (low Jun.19). 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 Richmond Fed: Manufacturing Index edges down to 20 in July from 21 in June FX Street 5 years Crude oil prices remain sidelined this week at/around the $70.00 area. Attention shifted to fresh US-Iran effervescence on oil exports. API, EIA weekly reports coming up later today and tomorrow. Prices of the barrel of the American benchmark for the sweet light crude oil are prolonging the consolidative theme prevailing in the last sessions. WTI now looks to Iran, US supplies Prices of the West Texas Intermediate are in a consolidative-mode during the first half of the week, navigating the vicinity of the critical $70.00 mark and somewhat showing some complacency despite the recent comments from both President Trump and… 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.
