FXstreet.com (Barcelona) - The barrel of the American benchmark for the light crude oil is hovering over the $85.00/bbl mark on Monday, retracing gains after opened markedly higher on an upbeat combination of data from the Spanish bailout and the trade surplus in the Chinese economy, with a substantial increment in the exports.
It is worth noting that the WTI was trading around $110.00/bbl in late February, and spiraling tremors regarding the euro bloc and the consequent ascent in the greenback, measured by the US Dollar Index, have dragged the crude oil to the present levels.
At the moment, WTI is losing 0.88% at $85.27/bbl, with the next support at 82.75 ahead of 81.05 and 80.10
On the upside, a breakout of 85.40 would bring 86.35 and finally 88.05
