WTI: Direction of the next major move unclear given elevated uncertainty – BMO

Source Fxstreet

West Texas Intermediate (WTI) continues to trade in a relatively tight band of $75 to $80 per barrel. Strategists at the Bank of Montreal analyze Oil’s outlook.

Searching for direction

Although it appears that WTI Oil is sitting comfortably at current levels for now, we suspect that it may not last. 

Given crude Oil’s historic price volatility, prices may eventually break out of the current trading range, but we are admittedly not sure of the direction of the next major move given elevated uncertainty.

 

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
AUD/USD advances to near 0.6570 on upbeat Australian Dollar, US CPI eyedThe AUD/USD pair jumps to near 0.6570 during the European trading session on Tuesday.
Author  FXStreet
9 hours ago
The AUD/USD pair jumps to near 0.6570 during the European trading session on Tuesday.
placeholder
WTI dips below $66.00 as Trump gives a deadline on sanctions to RussiaCrude prices drop about $3 as Trump gives a deadline to Russia to end the war in Ukraine.
Author  FXStreet
10 hours ago
Crude prices drop about $3 as Trump gives a deadline to Russia to end the war in Ukraine.
placeholder
Japan’s bond market is falling apart in real time after bond values crashJapan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
Author  Cryptopolitan
10 hours ago
Japan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
placeholder
S&P 500 hits a new all time of 6,300 for the first time everThe S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board.
Author  Cryptopolitan
11 hours ago
The S&P 500 broke through 6,300 for the first time in history on Tuesday, as rising demand for crypto stocks and tech names sent U.S. markets higher across the board.
placeholder
AUD/JPY remains on the defensive near 96.65 area, downside seems cushionedThe AUD/JPY cross ticks lower during the Asian session on Tuesday.
Author  FXStreet
11 hours ago
The AUD/JPY cross ticks lower during the Asian session on Tuesday.
goTop
quote