Crude Oil prices could see better 2023 than 2022. We believe the price will sustain above $90 as money managers have increased their long position after Brent breached $80 on the back of expectation of increased oil demand from China and rest of the world.
Crude oil price opens the week lower on concerns global trade may be impacted by geopolitical wrangling at G7 summit
WTI Oil is in a long-term downtrend, making successive lower lows. Given the old adage that the trend is your friend, this favors short positions over long positions.
