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🔥WTI crude oil price is reacting to an important resistance zone
Recently, Ukraine launched an attack on the CPC oil terminal at the Novorossiysk port, causing damage to the docking point and igniting 4 oil storage tanks.
In addition, Iran has also just rejected the ceasefire agreement with Mỹ
🖤Brent fell 2% to 104.46 USD per barrel
🖤WTI fell to 111.63 USD per barrel
WTI crude oil price is around the resistance zone where the conflict is starting to unfold. Tomorrow morning, it’s unknown whether the Iran & Mỹ agreement will drive oil prices above the resistance or turn around 😁