32 days ago • Posted by Ajmir Omid

#Oil retreats as it faces selling pressures #opec #energy #trading

Oil prices are decreasing by 2.4% with US Crude (WTI) approaching Monday's open (USD94.7). The Black gold remains in an upward trend, although selling pressures intensify as it makes new highs. The current retreat is most likely due to technical reasons. However, if oil bulls lose control, further downside risk shouldn't be omitted.