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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

    Aug 29, 2015
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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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