West Texas Intermediary (WT) Crude Oil barrels are seeing some tension in the midrange on Friday, in play between $85.00 and $83.00 USD per barrel as
WTI is seeing some back-and-forth for Friday. US Crude Oil barrels bounding between $85.00 and $83.00 per barrel. Oil markets remain concerned about Middle East tensions, but global slowdown hard to ignore. energy markets spread their bets to the middle. Oil markets continue to roil as Middle East headlines print across the tape, and barrel traders remain focused on developments in the Gaza Strip conflict.
Despite geopolitical tensions spilling out from the Jordan region, energy investors are having a hard time ignoring hardening signs of global growth weakness, and concerns are mounting in fossil fuels that demand for Crude Oil barrels is going to slump in the coming months. WTI Technical Outlook WTI Crude Oil is currently strung up in consolidation with candlesticks trading firmly inside familiar daily ranges. US Crude Oil is currently down almost 5% for the week as WTI cycles $84.00 per barrel.
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