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OIL: Oil Faces Sharp Move Lower

OIL

Oil prices take a sharp pull-back as more bearish fundamentals take hold with U.S. stockpiles expected to rise in the latest weekly report and eased concerns over Libyan supply. 

  • Fears around tariffs and sanctions uncertainty remains.
  • The move does not appear to be headline driven. Brent through yesterday’s low but within the multi-session range. Yesterday’s low in WTI holds.
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Oil prices take a sharp pull-back as more bearish fundamentals take hold with U.S. stockpiles expected to rise in the latest weekly report and eased concerns over Libyan supply. 

  • Fears around tariffs and sanctions uncertainty remains.
  • The move does not appear to be headline driven. Brent through yesterday’s low but within the multi-session range. Yesterday’s low in WTI holds.