U.S. WTI crude oil closed down 5 cents on Thursday (September 5), after rising as much as 2% and breaking through the $70 mark. The market is weighing the impact of a delayed production increase by the Organization of the Petroleum Exporting Countries and its Allies (OPEC+).
Analysts say there are a number of real headwinds for OPEC in the coming months, such as faltering demand and the U.S. season now over, and OPEC+ would like to see Brent prices stay between $85 and $90 a barrel in order to balance their budgets.
West Texas Intermediate (WTI) for October delivery settled down $0.05, or 0.07%, at $69.15 a barrel on the New York Mercantile Exchange.
Operation suggestion: The US oil daily line to the lowest position of 69.18 after the market finishing, the daily line finally closed in the position of 69.76 after the market with an upper shadow line extremely long shooting star shape closed, and after the end of such a form, today's market has continued to fall pressure, the point.
Trading strategy: short near 71, stop loss 71.4, target 69.15-67.5.
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