By Srinivas Chowdary Sunkara // petrobazaar // 20th Feb, 2019.
Brent settled 5 cents down at $66.45 and WTI closed 50 cents up at $56.09 a barrel last night. It seems that the market is looking for an excuse to break out and traders became more cautious on longs amid the uncertainty over ongoing trade talks. The concerns of faltering demand amid the slowing global economic growth as cautioned by the monthly oil reports pressed brent down from 2019 highs yesterday. The U.S sanctions on Venezuela's sour crude continued to support WTI futures.
On the other hand, Both the Saudi and Russia ensured continuous coordination on the global energy markets which could eased the doubts over Russia's stand on sticking to the pact. Markets are going to look at weekly numbers and API numbers are delayed because of Washington's Birthday. Today, Asian markets are opened in green. Good day.
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