Oil stages a nice comeback to finish nearly flat

March 4, 2025
-FCHFX

March 04, 2025 at 07:43PM
WTI crude oil settled lower by 11-cents to $68.26 today. Despite the decline, that’s something of a win for the bulls as it traded as low as $66.77 today.

The entire market has turned since then on (I suspect) optimism about a near-term tariff deal.

Technically, the low came near a series of bottoms made late last year. Key from here, I think, is some expansionary fiscal policy from China this week along with true positive hints on a Canada/Mexico deal.

It’s been a tough start to the week in light of OPEC+ announcing the return of 2.2 million barrels over the course of this year and next, though that’s ‘subject to market conditions’.

This article was written by Adam Button at www.forexlive.com.

Oil stages a nice comeback to finish nearly flat

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