West Texas Intermediate rose late last week and is within $88.00 per barrel. Crude oil prices open this week near near-term highs on the West Texas Intermediate. After the weekend, the ratio of 87.78 to the higher produced on Thursday, when WTI briefly traded above $89.25, is clearly visible. Advertisement Take advantage of today’s movement in crude oil Make a Trade A number of factors can affect the high price of crude oil. Record low US energy inventories, a rumor that demand for US energy exports has increased, cold weather and speculators may think the upcoming US election may play a role. Energy prices remain high, good for speculators and bad for inflation Last week’s high on Thursday began to flirt with crude oil ratios not seen since the second week of October. On the 7th and 10th of this month, WTI was above 91.00. Last Monday, October 2 , the price of oil actually fell to $82.30. This divergence in WTI crude prices highlights the ability of speculators to find broad support and resistance. The price of oil also shows that inflation will be difficult to control until higher energy prices boost the economic landscape with all its natural effects of logistics, production and fertilizer costs associated with agriculture. petroleum by-products. The price of 86.00 should be seen in terms of support early next week. However, if the WTI crude ratio remains above $87.00, it will once again attract the attention of bullish speculators who have repeatedly seen higher prices. Yes, the long-term crude oil chart through the 6-month chart shows that energy prices have declined, but also shows interesting support near 82.00, which appears to have returned. If prices remain above $86.75 in WTI at the beginning of this week, it could fuel the idea of ​​a speculative movement to higher prices. Traders who feel compelled to sell WTI because they believe it is too expensive due to the bearish data worldwide should exercise caution and use appropriate stop losses. Crude oil remains in the hands of large speculative players and the current Behavioral sentiment is based on the belief that China may begin to acquire crude oil, this may act as speculative buying. Crude oil may still look expensive, but political concerns and economic factors can quickly affect commodity prices, and traders must be prepared to move quickly. Using conservative leverage is key to trading WTI crude oil.

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