WTI crude oil dropped in the begining of the week

Noam Stiekema

The WTI crude oil price fell with 0.3%, increasing the negative trends on Friday when lost 1%. The futures on WTI crude oil with delivery in May closed at a level of 56.66 USD per barrel. Currently the price is above the 14-period moving average, fluctuate over this value in the last 21 days. Of […]

WTI crude oil

WTI crude oilThe WTI crude oil price fell with 0.3%, increasing the negative trends on Friday when lost 1%. The futures on WTI crude oil with delivery in May closed at a level of 56.66 USD per barrel. Currently the price is above the 14-period moving average, fluctuate over this value in the last 21 days. Of the oscillator RSI see that it is directly below the oversupply at 70 points, which means it can be expected sales in the coming days. Considering and drilled uptrend correction downwards remains likely.

The PMI index for services in the United States decreased from 59.2 to 57.8 points. It is based on data obtained from a survey of over 400 companies in the service sector in the country and is influenced by five individual index: new orders, production, employment, delivery times and stocks of purchases.

Strike dissatisfied with pay security guards led to the forced closure of the western Libyan oil field El Feel. Analysts say it can produce about 100,000 barrels of oil per day. Libya was forced to close the facility at the end of 2014, when rebels took over Tripoli.

Russian state oil pipeline operator Transneft yesterday announced that supplies of Russian oil through Druzhba pipeline were reduced by half because of injury in Belarus.

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