Crude oil prices rose as the demand for crude oil was not destroyed, and oil prices may have good support. There are too many market risks to crude oil supplies right now, and both the EU and the US have strong travel demand. U.S. crude oil production is increasing slowly, and WT crude oil may be well supported at $100. Also, fears of a recession are mounting, but the effects of the recession won’t be felt for a long time, meaning the disruption to crude demand won’t be imminent. And crude oil inventories are too low, crude oil traders can not bear WT crude oil.
Analysis by COT report and technical methods. Updated cot report,Total Long position changes is