WTI down 70-cents to $69.58
Chatter about a resuming Iran nuclear talks is combining with negative risk sentiment to weigh on oil.
WTI fell through yesterday’s low down to $69.58 as it eats further into last week’s gains.
The two-hour chart now isn’t looking great with a minor head and dhoulders top in place targeting a fall back to last week’s lows.
Oil — like everything else — is now looking to China for a read through on global GDP. In the shorter term though, it will be down to the Fed and PBOC to signal what’s next for markets.