OIL.WTI fell sharply on Monday as weak data from China sparked demand worries. Industrial production growth in top oil importer China disappointed, pointing to a sluggish recovery. Meanwhile, hopes of more supplies from Iran emerged after the state run IRNA said that it could accept the EU’s offer to revive the Iranian nuclear deal. Elsewhere, Saudi Aramco announced yesterday that it is willing to increase crude output to its maximum capacity of 12 million barrels a day if the Saudi Arabian government orders it to do so. OIL.WTI price dropped below $88.00 per barrel and is testing recent lows. Should a break lower occur, downward move may accelerate..
OIL.WTI, D1 interval. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
