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home / news releases / USAI - WTI Likely To Move And Retest $35

USAI - WTI Likely To Move And Retest $35

American Energy Independence

Welcome to the more downside edition of Oil Markets Daily!

We have received a lot of messages recently about whether or not now is the time to buy this dip.

The answer is no.

Not only has the E&P sector (XOP) broken down support at $47, but WTI, in our view, is likely to test the critical $35/bbl level next.

Fundamentally speaking, the physical market remains horrid.

Source: Barcharts.com

You can see this in the Brent 1-2 spread which remains under pressure. The recent widening in contango has also prompted trading firms to

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Stock Information
Company Name: American Energy Independence
Stock Symbol: USAI
Market: NYSE
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