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WTI slips lower

OIL
  • Oil is drifting lower, very likely more longs bailing out following yesterday's story that IEA will be releases some reserves on top of the US.
  • WTI saw some small momentum after breaking initial support at $95.73 - Low Apr 6, printed $95.43 low.
  • Also earlier which looks part of the IEA: (As per Bloomberg): "Japan will release 15m barrels of oil from its strategic reserves as part of coordinated efforts with the International Energy Agency to mitigate the impact of surging energy prices, Kyodo reports, without saying where it obtained the information."

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