WTI Oil 010524 Daily Chart
WTI oil tests new lows as traders react to the EIA report, which indicated that crude inventories increased by 7.3 million barrels from the previous week. Total motor gasoline inventories grew by 0.3 million barrels, while distillate fuel inventories declined by 0.7 million barrels.
In case WTI oil settles below the support at $79.00 – $80.00, it will head towards the next support level at $74.50 – $75.50.
