WTI crude oil posts a bullish gap, reaching its highest levels since July 2022. Iran-related tensions fuel upward pressure, but rally could be short-lived. Momentum indicators mirror the surge, extending into overbought territory. WTI crude oil surged more than 30% on Monday, reaching its highest levels since mid‑2022, as the deepening conflict in the Middle […]
The post WTI Crude Oil Soars Over 30% Before Settling Below 120.00 appeared first on ActionForex.
Key takeaways Oil surges amid geopolitical supply fears: West Texas Intermediate crude oil jumped as much as 30% intraday to $119.54, marking its highest level since 2022, driven by concerns that the US–Iran war in Read more…
Europe is an unintended victim of the Middle East conflict. The growing likelihood of two ECB rate hikes is not enough to boost EURUSD. The US dollar posted its strongest weekly performance in a year Read more…
Carly Garner, the Las Vegas commodities trader, has been watching the wild swings in commodity prices lately, and, over the weekend, offered this thought about oil prices: “I’ve only seen oil move this far, this Read more…