Oil is now heading for its third consecutive weekly gain.
The global oil market is tightening due to reduced supply from key exporters like Russia and Iran, as well as a surge in demand for heating fuels.
Looking at the technical charts, oil prices are very tenacious, as if they are building firmer foundations in preparation for a subsequent breakout to the upside.
Looking at the technical charts, oil prices are very tenacious, as if they are building firmer foundations in preparation for a subsequent breakout to the upside.
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Oil Prices Escape Downward Channel
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.