WTI crude continues weekly ascension, settles at 110.00

FXstreet.com (New York) – WTI crude oil continued its relentless rise this week, with Syria weighing on the minds of investors, driving up the price in rapid fashion.

Key figures breached

WTI Crude Oil jumped sharply once again, breaching all of the upside targets, i.e. the 107.00, and 108.90 resistance, even breaking out of a previous sideways range. The bias remains strongly bullish, and the bullish scenario remains favored, despite the expected volatility. In these moments the price of crude is trading at 109.95/bbl during US trading Wednesday. Earlier today, the EIA Crude Oil Stocks change (August 23) was reported at 2.986M, …read more