Seen a strong move up this morning in Asia which is still on going in Europe. Feb WTI crude, is up around 1.5 bucks from lows in Asia of $101.22. There’s some technical resistance around $102.95 which if broken could extend up to $104.60.
Later this afternoon there’s the weekly API inventory report, and analysts are looking for a draw of around 1 million barrels for the last reporting week ending Jan6.
We’re trading around $102.72 at the moment