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22 Jun 2015
WTI lifted above $ 60
FXStreet (Mumbai) - WTI oil futures on the Nymex extends its upbeat momentum in the mid-European session, although retreated from session highs, as traders now turn their focus towards Greece as the Euro group official gather to clinch a deal today.
WTI capped at 60.63
Currently, WTI trades 0.74% higher at 60.41, finding good support at 59.56. Oil prices trades higher this session as easing worries over debt-ridden Greece boosted appetite for riskier assets.
Traders are eyeing negotiations between Greece and its euro zone counterparts that are set to continue on Monday, with traders hoping a compromise between both sides will be reached soon.
While, Iran's Foreign Minister Mohammad Javad Zarif is due to meet French counterpart Laurent Fabius on Monday as nuclear talks between Tehran and six world's powers should be finalized ahead of a June 30 deadline.
Technical Levels
WTI oil has an immediate resistance which stands at 61.50 levels above which gains could be extended to 62.75 levels. Meanwhile, support is seen at 60 levels from here losses could be extended to 58.20 levels.
WTI capped at 60.63
Currently, WTI trades 0.74% higher at 60.41, finding good support at 59.56. Oil prices trades higher this session as easing worries over debt-ridden Greece boosted appetite for riskier assets.
Traders are eyeing negotiations between Greece and its euro zone counterparts that are set to continue on Monday, with traders hoping a compromise between both sides will be reached soon.
While, Iran's Foreign Minister Mohammad Javad Zarif is due to meet French counterpart Laurent Fabius on Monday as nuclear talks between Tehran and six world's powers should be finalized ahead of a June 30 deadline.
Technical Levels
WTI oil has an immediate resistance which stands at 61.50 levels above which gains could be extended to 62.75 levels. Meanwhile, support is seen at 60 levels from here losses could be extended to 58.20 levels.