World crude oil prices today - WTI crude oil buyers are jostling during a three-day uptrend on Wednesday morning as they face a major near-term hurdle around $76.50. Thus, the black gold prices are cheering the US dollar weakness, as well as cautious optimism in the market. US crude inventories are falling by around 3.1 million barrels during the week ending December 16, according to sources from API Reuters. Private oil stocks had previously managed to mark a build of 7.819 million barrels.

Crude Oil, WTI, Ready to Test Prices From $81.00 to $80.00 Levels

Easy to Identify Trading, Use This Warrior!

World Crude Oil Price News Points:

  • WTI crude oil picks up bids for three day uptrend
  • US dollar bears the brunt of BoJ's bond sales
  • API investor decline, headlines from China, Japan add to recovery power
  • EIA weekly oil stocks, US CB consumer confidence eye fresh boost
The DXY Dollar Index fell the most in a week compared to previous days, stabilizing around 104.00 at the time of this report. The US Dollar's rise was due to greenback traders who were worried about reduced purchases of Japanese bonds against US Treasuries due to the Bank of Japan's (BoJ) actions.


WTI Crude Oil Returns Bearish & Loses 14,000 Barrels

Crude Oil Below Highs, Market Weighs Demand

Japan is the largest holder of US Treasury bonds and as such, it has adopted a new measure that allows Tokyo to inject more funds into the country rather than letting them flow out. The 10-year counterpart has risen more than two years, thereby reducing the yield curve inversion that could lead to a recession. Elsewhere, hopes of more Chinese investment as the World Bank cut its growth forecast for the country and policymakers’ readiness to combat recession fears have buoyed market sentiment. On the other hand, there could be progress in the US Senate on a $1.66 trillion government spending bill, and the Japanese economy is looking upbeat. The 10-year US Treasury yield is near a three-week high of around 4.26%. Further, Wall Street closed on a green note, allowing stocks in the Asia-Pacific region to post modest gains of late. Also, the 2-year Japanese government bond (JGB) yield jumped above 0.0% for the first time since 2015. The official EIA oil stock for December 16, which previously showed a rise of 10.231 million barrels, will be important for immediate direction. On the same line will be the US CB confidence figure for December. It is expected to come in at 101.00 from the previous figure of 100.00.

Technical Analysis of World Crude Oil Prices

GBP USD News Today Strengthens, UK Rent Costs Rise to 12.1%

Daily closing data is outside the resistance line, declining in seven weeks near $ 76.50. This is important for WTI crude bulls to maintain control.

Get Iphone 14 Pro Max Without Hassle! Only Here!

Above is daily information on world crude oil prices. Keep updating the latest information through the GIC journal which will be announced every day. You can also trade on the GICTrade application with its latest feature, an ECN account, enjoy the advantages of the latest features with the lowest spread starting from 0! Also follow the GIC Gebyar Hadiah and get attractive prizes in it from GIC worth billions of Rupiah without a draw!


Maximum Profit By Using This Account!