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WTI Crude Oil prices rise on spot demand

24/08/20211 min. read

The latest reports by economic analysts indicate that WTI Crude Oil prices rise on spot demand. In particular, we are reading that: 



Oil prices rebound after 7 days of losses. Technical analysts suggest: 


  •  U.S. West Texas Intermediate (WTI) crude oil prices had gained 34 cents, to $65.98 a barrel, up 0.5% intraday, during early Tuesday.


  • Oil prices increased on Tuesday after Pfizer Inc/BioNTech SE COVID-19 vaccine got full approval by the U.S. FDA.


  • WTI refreshes a 1-week high on crossing monthly resistance line, 50-SMA.


  •  In the meantime, many countries are dealing with the emerging infection rate of Covid-19 by establishing new restrictions in traveling, which is a key factor for energy prices.


  • China, the world's largest oil importer, demanded new restrictions, with a high impact on shipping and global supply chains.


(Sources: / /

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