🛢Oil plunges as geopolitical tensions ease❗

5:02 PM 15 February 2022

📉Crude prices under pressure as Russia pulls troops from Ukraine border

Selling pressure can be observed on the oil markets on Tuesday, with both Brent and WTI futures losing more than 4% as news that part of the Russian troops started leaving Ukraine’s border and Putin's comments pointing to a de-escalation prompted some profit-taking after a recent rally. On the other hand, some reports emerge of shelling in the Luhansk/Donetsk region. Currently top US and Russian diplomats Blinken and Lavrov are speaking over the phone. The outcome of this conversation could trigger volatility in the markets again.

OIL.WTI price pulled back from recent highs at $96.00 and is currently approaching local support zone around $90.30 which is marked with upper limit of the 1:1 structure and upward trendline. Should break lower occur, next target for sellers is located around $88.00 and coincides with 23.6% Fibonacci retracement of the last upward wave. Source: xStation5

Share:
Back

Join over 1 600 000 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