Buy position is envisaged if price trades above 88.16 with take profit at 88.48 .
Sell position is envisaged if price trades below 87.41 with take profit at 87.04.
4:30pm USD Crude Oil Inventories
Comment: Oil rose towards $89 a barrel on Wednesday, within sight of a seven-year high, supported by tight supply and geopolitical tensions in Europe and the Middle East that raise concerns about further disruption. U.S. President Joe Biden said on Tuesday he would consider personal sanctions on President Vladimir Putin if Russia invades Ukraine. On Monday, Yemen’s Houthi movement launched a missile attack on a United Arab Emirates base.
Analysis: SCRUM Team