At present what direction will crude oil price follow?

[CHIBUEZE + 1]

At present what direction will crude oil price follow?

Of recent, we are witnessing gradually fall in price of crude oil, but within some minutes now, there seems to be little upward movement in oil price.

But with China option of forming with some other countries, group of oil inputting nation, which some of their decision will indirectly affect the oil price, also with more discovery/adding of crude oil barrel in the international market every day, I believed that rising in price will not be sustain, but rather, continuous falling is feasible.

Edited June 20, 2018 by CHIBUEZE

[Rodent + 1,424]

6 hours ago, CHIBUEZE said:

At present what direction will crude oil price follow?

Of recent, we are witnessing gradually fall in price of crude oil, but within some minutes now, there seems to be little upward movement in oil price.

But with China option of forming with some other countries, group of oil inputting nation, which some of their decision will indirectly affect the oil price, also with more discovery/adding of crude oil barrel in the international market every day, I believed that rising in price will not be sustain, but rather, continuous falling is feasible.

WTI is certainly trading up today--Brent up a bit but not as much as WTI. I think largely traders excited about the crude draw today. Goldman still saying oil could reach $100, India desperately trying to convince the powers that be that higher oil prices will collapse the world economy.