Oil prices look poised for further upside from a technical standpoint but tensions in the Middle East will remain the key driver of Oil prices in the week ahead. Will we see a fresh YTD high?
Oil prices recovered aggressively from multi-month lows as WTI closed the week above the $70 a barrel mark. Technicals hint at a deeper recovery but market sentiment remains fragile.
Oil fluctuated between losses and gains this past week as recession fears continue to weigh on prices. Will huge swathes of data this week be pivotal in providing Oil with a medium-term direction?