WTI crude oil is at the highs of the day as it joins the 'everything rally' for the moment. Trump added to it as he talked at the UN about Europe cutting off purchases of Russian oil. The ongoing attacks on Russian oil infrastructure -- surely with US approval -- is also helping to boost crude.
On the technical side, I would note a small series of higher lows in September. It's not anything to get excited about but it's a glimmer of hope in the oil market in what's been a rough year.
Of course, I'd note that oil is cyclical and oil companies aren't making enough money to re-invest at $64/barrel so it's only a matter of time until prices spike. Trump was also at the UN calling climate change a con job so there won't be any brakes on fossil fuel consumption in this administration.
This article was written by Adam Button at investinglive.com.Hence then, the article about something to build on a small series of higher lows in oil was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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