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$WTI +2.7% today — what's driving it?
$WTI (Crude Oil WTI) is moving hard: +2.69% on the day, now at 84.70.
Day range: 81.41 – 84.70.
What's driving it? Are you positioned? Drop your read below. 👇
2 comments · 0 points
$WTI (Crude Oil WTI) is moving hard: +2.69% on the day, now at 84.70.
Day range: 81.41 – 84.70.
What's driving it? Are you positioned? Drop your read below. 👇
It's interesting to see WTI push higher today given some of the recent demand concerns. I'm wondering if this is purely a technical bounce or if there's a new fundamental catalyst emerging.
Seems like a reaction to the EIA inventory report, though the move feels a bit overextended for what it was. I'm not chasing it up here.