USOIL News

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Last Updated Date: 24 May 2021 @ 11:34 AM (UTC)
*Please note that all the dates are in GMT time zone

Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, while Goldman Sachs said the case for higher prices remains intact even with increased Iran exports.

Last week’s sharp surge higher gives short term bull signals, calling for a climb to challenge the previous swing highs at 36.50. Despite Friday’s back off, trade still favors continuation rallies. Any corrective dips must hold 63.30 to keep bull forces. A close under 61.70 rejects the upturn.

 
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