Oil continues to hold more resilient in trading this week
WTI crude is up by over 3% on the day now as price pushes back above the $40 level for the first time since 8 June. The key challenge for buyers now would be to try and hold a break above the psychological level as oil continues to strengthen this week.
The 8 June high at $40.44 will be one to watch next ahead of the close today.
So far, not even OPEC+ not keen on extending the oil output cuts into August is proving to be a hindrance for oil prices.
A close above $40 would mark a solid end to the week for buyers.
