Crude ready to fall as U.S. lo sell 26 mln bbls of oil reserves

١٧ فبراير ٢٠٢٣

Crude oil is bearish and it can see more weakness now when USD is up across the board. We see crude oil in a triangle, so more weakness can be coming since we know that this is a continuation pattern.

In fact Biden administration said on Monday it is selling 26 million barrels of crude oil from the Strategic Petroleum Reserve, a release that had been mandated by Congress in previous years.