The WTI oil has reached almost $133 this year in March. However, it oil fell by 40%, and its today price is around 78.
Economic instability provokes the sale of the black gold, and a strong US dollar makes it expensive for importing countries, reducing demand.
In this regard, OPEC announced the possibility of interfering in the oil market by regulating its extraction.
Thanks to which the growth of WTI to the levels of 80-82 is possible.
In terms of trade, it’s likely to make a profit on purchases with goals 80 and 82 and protection below 75.
This content is for informational purposes only and is not intended to be investing advice.