WTI crude oil rejects $75 in a reversal
The week started strong for the oil market on global growth hopes after the WaPo report downplayed Trump's tariff ambitions. But crude ran into sellers right at the $75.00 level and then Trump denied the report.That meant that $74.99 marked the high for the day for oil and it's reversed lower to $73.25.At the best levels, crude traded at the highest since mid-October but it's now close to retesting the November highs. This article was written by Adam Button at www.forexlive.com.
The week started strong for the oil market on global growth hopes after the WaPo report downplayed Trump's tariff ambitions. But crude ran into sellers right at the $75.00 level and then Trump denied the report.
That meant that $74.99 marked the high for the day for oil and it's reversed lower to $73.25.
At the best levels, crude traded at the highest since mid-October but it's now close to retesting the November highs. This article was written by Adam Button at www.forexlive.com.
