Read more
8:22 AM · 5 March 2021

Chart of the day - OIL.WTI (05.03.2021)

OIL.WTI
Commodities
-
-

Oil prices started to recover from early-week's declines on Wednesday and the upward move has accelerated significantly yesterday. OPEC+ meeting can be named as a reason. Oil producers decided to leave output unchanged in April while allowing Russia and Kazakhstan to slightly boost production. On top of that, Saudi Arabia decided not to withdraw its voluntary cut yet. Markets feared that OPEC+ may decide to start phase out output cuts but no such thing happened and oil rallied. Brent tested $68 per barrel today, the highest levels since early-January 2020. WTI tested $65 per barrel, its pre-pandemic high.

Oil has resumed upward move after a recent downward correction. Freezing output at current levels has encouraged bulls to push prices higher. OIL.WTI tested $65 resistance earlier today but failed to break above so far. In case we see a break above the $65 zone, the next resistance to watch can be found at $73 - a local peak from May 2018. On the other hand, failure to break above this resistance may trigger a pullback towards recent local low at $59. Source: xStation5

8 January 2026, 6:50 AM

Morning Wrap (08.01.2026)

7 January 2026, 6:55 PM

Daily summary: Alphabet shares support sentiments on Wall Street 🗽Oil, precious metals and crypto slide

7 January 2026, 6:30 PM

US grains surge on commodity fund buying 📈 Wheat up 1.5%

7 January 2026, 6:05 PM

Oil dips below $60 amid EIA report🚨Is a sell-off coming?

Join over 2 000 000 XTB Group Clients from around the world

The financial instruments we offer, especially CFDs, can be highly risky. Fractional Shares (FS) is an acquired from XTB fiduciary right to fractional parts of stocks and ETFs. FS are not a separate financial instrument. The limited corporate rights are associated with FS.
This page was not created for investors residing in Brazil. This brokerage is not authorized by the Comissão de Valores Mobiliários (CVM) or the Brazilian Central Bank (BCB). The content of this page should not be characterized as an investment offer in Brazil or for investors residing in that country.
Losses can exceed deposits