WTI flirts with 6-week lows in the sub-$70.00 zone – by pabspiovano Oil Commodities Energy WTI
) extended its sell-off to levels last seen back in late March, dropping below the key $70.00 mark per barrel on Wednesday.WTI prices have lost nearly 10% since Monday and retreated for the third session in a row in response to unabated fears surrounding a probable recession in the US economy, which could eventually impact the demand for the commodity.
Adding to the sour mood among traders are disappointing results from the Chinese manufacturing and services sector, which were published over the weekend.thAt the moment the barrel of WTI is down 3.19% at $69.22 and the breach of $66.86 would open the door to $64.41 and then $61.76 . On the upside, the next hurdle comes at $76.92 followed by $79.14 and finally $81.55 .Information on these pages contains forward-looking statements that involve risks and uncertainties.
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