Wed, Mar 29, 2023 @ 17:29 GMT
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US Oil Struggles to Recover

WTI crude bounces higher as US inventories show a larger-than-expected rise. The price is having a hard time holding onto its recent gains after it broke below last April’s low at 94.00. Sentiment has turned cautious as a series of lower lows forced more buyers to bail out. The latest rebound met stiff selling pressure at 104.00, a sign that sellers might have gained control. The bulls will need to lift the psychological level of 100.00 or 93.00 could be their last stronghold and its breach may extend losses below 88.00.

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