📈 Brent breaks above $59.50 and reaches 1-year high
Brent (OIL) jumped above a $59.50 swing level today as oil remains in investors' favor. Brent caught a bid following a break above the descending triangle pattern and buyers benefit from broad risk-on moods seen on the global financial markets this week. Bullish momentum was further supported by news saying that OPEC+ stays committed to reducing crude surplus on the market. While Brent has been lagging WTI recently, it is now trading at 1-year highs as well.
Brent reaches 1-year high and nears $60 per barrel. Source: xStation5
