Technical Analysis
Bullish Preference:
Buy is envisage if price trades above 67.41 with take profit at 67.67.
Bearish Preference:
Sell is envisaged if price trades below 66.79 with take profit at 66.57.
Fundamentals:
USD 3:30PM Natural Gas Storage
Comment: Oil was up Thursday morning in Asia as investors continue to expect fuel demand to recover by the summer, despite ever-surging numbers of COVID-19 cases in countries such as India, Japan and Brazil.
Investors are looking to record oil demand in the summer as COVID-19 vaccination rates in North America and Europe accelerate. However, the continuously rising numbers of COVID-19 cases in India and Brazil could lead to tighter lockdowns and hit the crude oil demand.
Analysis: SCRUM Team