I will consider only long positions with the aim to reach the resistance area.
The contango market structure for Brent and WTI suggests less immediate concern about supply shortages. Additionally, the increase in U.S. gasoline inventories and China’s reduced oil import demand contribute to a cautious market sentiment, potentially leading to further price fluctuations.
The contango market structure for Brent and WTI suggests less immediate concern about supply shortages. Additionally, the increase in U.S. gasoline inventories and China’s reduced oil import demand contribute to a cautious market sentiment, potentially leading to further price fluctuations.