The price of WTI crude oil futures in the United States fell 1.6% on Wednesday (September 4), falling below the $70 per barrel mark, the lowest level in nine months.
Senior analyst at Rystad Energy said: "With demand growth uncertain and major supply disruptions unlikely, all eyes are once again on OPEC+. Until OPEC+ clarifies its strategy, the overall bearish sentiment will persist."
West Texas Intermediate (WTI) futures for October delivery fell $1.14, or more than 1.62%, to settle at $69.20 a barrel on the New York Mercantile Exchange, the lowest close since Dec. 23, 2023.
Operation suggestion: The US oil daily line reached the highest position of 71.95 after the market fell strongly in the end, the daily line to the lowest position of 69.25 after the market collated, the daily line finally closed in the position of 69.77, the daily line with a very long bardo line closed, and after the end of this form, the daily line back to the broken triangle under the rail effective, today's market has falling pressure, On the point.
Trading strategy: short near 71.1, stop loss 71.6, target 70-68.
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