January 06, 2025 at 06:54PM
The week started strong for the oil market on global growth hopes after the WaPo report downplayed Trump’s tariff ambitions. But crude ran into sellers right at the $75.00 level and then Trump denied the report.
That meant that $74.99 marked the high for the day for oil and it’s reversed lower to $73.25.
At the best levels, crude traded at the highest since mid-October but it’s now close to retesting the November highs.
This article was written by Adam Button at www.forexlive.com.
WTI crude oil rejects $75 in a reversal