WTIC Light Crude Oil: WTIC Just Broke Below $75/bbl

 


The WTIC crude oil price just broke below $75/bbl following the Reuters report today saying that Saudi Arabia may cut oil prices to Asia even further, as the near-term market outlook is dim.

WTIC crude oil may be heading down to retest the DEC 2021 breakout. More downside, to the $68 and $65/bbl level, could be ahead if the breakout-retest fails.

This note contained herein is not and should not be construed as a recommendation to buy or sell. Click here to view the latest update!

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