WTI Breaks $75 Barrier, But Traders Remain Cautious ...Middle East

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WTI Breaks $75 Barrier, But Traders Remain Cautious
source : OILPRICE ( Middle East ) () 24
After shedding 8% last week, crude oil prices are trading up over 1.7% midday Monday, driven by China’s reopening and a weaker U.S. dollar.  West Texas Intermediate (WTI) was trading up 1.84% as of 1:31 p.m. EST on Monday, breaking the $75/barrel barrier, while Brent was trading up 1.55%, pushing towards the $80 mark.  China’s reopening news was the key driver pushing against recession fears that commanded all the attention last week. Less hawkish sentiments coming from the Fed, combined with a softening dollar, also gave…

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