Oil News: Tight Inventory and Infrastructure Damage Fuel a Bullish Crude Outlook
FX Empire·2026-03-23 07:19
The trend is up according to the swing chart, but mostly because we are on the strong side of the 52-week moving average, currently at $63.47. As long as the market holds above this technical indicator, we’re going to be in buy the dip mode on the weekly chart.The Strait of Hormuz Is Still the StoryReuters reported last week that shipments through the Strait are down and analysts are already raising their price targets. The real question isn’t what’s happening now. It’s how long it lasts. The longer it drag ...