OIL long view

During the Asian session, the price of crude oil recovered after a milder withdrawal than yesterday. As the European session began, the oil price began to fall, from $ 106.23 to $ 102.60. An official government report on the state of stocks showed yesterday that crude oil stocks in the USA increased by 8.5 million barrels. The political harmonization of the representatives of the EU member states has not yet borne fruit, but it continues. Attempts are being made to persuade Hungary to agree to an oil embargo on Russia through financial compensation and reach a solution by meeting foreign ministers scheduled for May 16. Since we have bearish pressure on the price today, and we can expect the price to continue a pullback to $ 100.00 in psychological support. Yesterday's minimum was $ 98.17. For the bullish option, we need better consolidation and a break above $ 105 if we plan to test the $ 106.50 level again.