WTI holds above $80.00 per barrel as traders digest OPEC+ cuts, weak global PMIs

Share:

• On Tuesday, soft US economic data increased worries about a curtailed oil demand.
• US crude oil inventories withdrew more than 4 million barrels last week.
• WTI Price Analysis: The breaks of a 7-month-old downslope resistance trendline can pave the way for further gains.

Western Texas Intermediate (WTI) holds to its previous day’s gains, clings above the $80.00 per barrel psychological level as traders diggest over-the-weekend news of the OPEC planned cuts. WTI is trading at $80.96 PB, gains 0.71%.