FXStreet – Oil prices to record discounts as on the previous day, with slight Price. The US variety of West Texas Intermediate flirted recently with the daily lows at around 49,00 dollars.
WTI focus on API
Oil prices are again under pressure and test as a response to the concern about an Oversupply of Oil on the world market Multi-day lows at 49,00 dollars.
The black Gold lost momentum after it was rejected in the previous week to the brand of 52.00 dollars, especially after the OPEC Meeting, which had disappointed investors as they had expected deeper and more prolonged cuts in production.
In addition, the concern about an Oversupply of Oil on the world market returned to the commodity markets. Blame, among other things, the inexorably rising US Bohraktivität. According to the US-services provider Baker Hughes, the number of active Drilling for oil in the week to 19. May have risen by a further 2 to 722. This corresponds to the nineteenth week of gains in a row.
In the further course of a day, the American Petroleum Institute (API) will be published held his Numbers to the weekly crude oil stock.
WTI observed levels
Finally, the barrel of WTI traded on 49,17 $ 1,27 per cent in the Minus. The next supports lie at 48,76 (50% Fibo from April to may), 48,63 (20-day line) and 48,18 (Deep 26. May). Technical Resistances are at 50,29 (High 29. May), 50,92 (100-day line) and 52,00 (High-25. To find may).