Key support comes at $70.50 - 71.75 and intermediate target is $76 if Brent oil manages to hold above upper band on a weekly basis! pic.twitter.com/aWK91iNSJ6Oil hits highest level since 2018Oil traded above $71 a barrel as some of the most prominent voices in the market said they expect prices to continue to rise. West Texas Intermediate was 1% higher, earlier touching its highest level intraday since 2018. - There’s a chance oil could hit $100 a barrel on a lack of supply amid underinvestment in the sector, according to Trafigura CEO Jeremy Weir. Meanwhile money continues to rotate into the commodities sector more broadly.

Source: News 24 June 14, 2021 08:44 UTC