According to unconfirmed sources operator TC Energy is said to be planning a partial Keystone restart beginning on December 10th. As a result oil sell-off gained steam, with the OIL.WTI contract approaching $70.00 per barrel, while Brent futures dipped to $75.40 per barrel. Also, for the first time since November 2020, the 1-Year WTI Crude futures spread has flipped to contango.
OIL.WTI broke below major support at $71.00 and declines may deepen towards next support at $68.00. Source: xStation5
BREAKING: Massive increase in US oil reserves!
Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report
📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30
Silver rallies 3% 📈 A return of bullish momentum in precious metals?