WTI is coming under intense pressure on Wednesday, down almost 4% on the day at the time of writing, and further losses could be in store.
WTI has pierced last year’s lows to trade at the lowest level since 13 February 2009, a move that could prompt further losses in the coming sessions, with further technical support appearing not far below at $32.30.
What makes this continued bearish bias all the more significant was the apparent increase in geopolitical risk following Saudi Arabia’s decision to sever diplomatic ties…
WTI Crude – Multi-Year Lows Eyed on Support Break
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