WTI Crude oil was knocked down hard recently falling 7% last Thursday from $64.50 to $59.40, bouncing back slightly during the next couple of sessions after that, before getting smacked 4% yesterday to $57.36, as pandemic concerns and delayed vaccine rollouts weighed down on market sentiment. A buildup in API crude inventories coming in at 2.9 million barrels in the week of March 19 added to the bearish momentum. Traders were looking for a decline of about 300,000 barrels.
Chief Market Analyst at SquaredFinancial
Rony has over twenty years of experience in financial planning and professional proprietary trading in the equity and currency markets. Prior to joining SquaredFinancial, Rony educated and coached numerous traders helping them find their edge and arming them with proven trading methodologies to successfully battle the markets. Rony obtained a B.S. in Finance from Concordia University in Montreal, and his professional designations include Certified Financial Planner CFP® obtained from the Canadian Securities Institute.
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