USOIL remain puzzled due to Middle-East Tension, What you think?

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The price of the crude oil surged to the uptrend now and its time to pullback to reach 87$. I will go through in the Bullish if the price doesn't break 80$ lower level. If the price goes down little bit I will wait for this opportunity to go through in the bullish. I am looking my first target near 82.90 and then the second target 84 and then 86 and up if the price will go up the minimum supports.

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Komentar:

Crude oil is one of the most demanded products globally, and its rates have risen significantly in recent times, both as a result of supply-chain bottlenecks and the war in Ukraine.

Two main benchmarks for pricing crude oil are the United States' WTI (West Texas Intermediate) and United Kingdom's Brent. The differences between WTI and Brent involve not only price but oil type as well. WTI produces crude oil with a different density and sulfur content.

The demand for crude oil is dependent on global economic conditions as well as market speculation. For example, oil prices plummeted during the Coronavirus pandemic due to decreased demand, even reaching negative pricing in April 2020. Crude oil prices are commonly denominated in US dollars.

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