FX.co ★ bradtke.owen | CL/Crude Oil

The price of oil #CL was rising nicely throughout the day, reaching a level of 102.65. However, during the American session, news came out that Lebanon and Israel will begin peace talks in the very near future. The date for the talks is set for April 14, with talks between the US and Iran starting even earlier on April 11. Against this backdrop, the markets received a new dose of positivity, and the oil price corrected nicely downwards, currently trading near the round support level of 95.00. If this support is broken downwards, I expect further movement towards the round level of 90.00. The future prospects will depend on the results of the negotiations.