WTI Price Analysis: Extends recovery above $81.00 as recession worries fuel odds for steady Fed policy Oil WTI Inflation SupportResistance Reversal
economy due to contracting manufacturing activities and a slowdown in job openings have triggered the requirement of an early pause in the policy-tightening spell by the Federal Reserve .
Also, the oil price is expected to remain volatile ahead of the release of the weekly inventory data by the US Energy Information Administration for the week ending March 31. On Tuesday, the US American Petroleum Institute reported a decline in oil inventories by 4.3 million barrels. The asset is highly skewed from the 10-period Exponential Moving Average at $76.38, which indicates a solid upside momentum.
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