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Commodity: the price of a barrel is trying to rebound

31/08/2023
Source : ORISHAS FINANCE
Categories: Raw materials

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Since the beginning of the week, oil prices have picked up again. The price of a barrel could continue to take advantage of the renewed appetite for risk to rise to its recent highs. Oil prices have picked up since last Friday thanks to the renewed appetite for risk generated by Jérôme Powell's Jackson Hole speech

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The price of a barrel of WTI rose to $81, from a low of around $77 last week, thanks to a sharp drop in U.S. crude oil inventories. The price of a barrel seems to have come out of the top of a consolidation bevel at the beginning of the week and seems to have narrowly avoided forming a head-and-shoulders turnaround. The price of a barrel of WTI could therefore continue to gain and reach its peak at the beginning of August at around $84 in the short term

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