WTI Oil Supply Issues, Last Week Tanker Explosion, WTI-Brent Spread

Brent-WTI Spread higher on tanker explosion
IEA trims oil demand growth estmate
Traders eye US crude oil inventories
WTI crude oil inventories

WTI crude oil inventories

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What’s Happening in Energy Markets:

Prices last week in WTI Crude Oil Futures fell 2.7% and closed at $52.50 per barrel.

Last week supply concerns pressured energy markets. Although, after a tanker explosion on June 13 prices and volatility were briefly higher.
 

Why Tensions in Middle East Matter:

The rising tension in Middle East has impacted the WTI-Brent spread to the upside. Middle East tensions typically have traders buying Brent futures and selling WTI futures.

 

 

Energy Futures Technical Levels:

Technical Analysis & Charts & Calendar by TradingView

 

WTI Crude Oil Futures Chart:

 

Economic Calendar:

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