ND: Commodities OPEC to hold quota, oil firm on pick-up
FXstreet.com (London) - The oil price has steadily climbed higher today in a background of seemingly increasing demand. On top of the encouraging signs from across the globe on consumption outlook, OPEC today agreed quotas would be kept unchanged as the recovery picks up pace.
WTI front month futures currently trade at $82.75, trading in gradual ascendent channel with few significant corrections. Pair has yet to breach $83, indeed we take this as primary significant resistance.
