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Crude off Highs as Traders Weigh Impact of Canada Fire, Saudi's New Oil Chief

Discussion in 'Technical Analysis' started by Kaitlin, May 9, 2016.

  1. Kaitlin

    Kaitlin Forum Member

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    At the start of this week, oil prices found themselves sharply higher with Brent almost reaching $46.50 and WTI $46 a barrel overnight. Support for oil prices is coming from Canada due to the ongoing wildfires, which has reportedly reduced the nation's daily crude output by a fifth already. Unfortunately[​IMG]

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