WTI crude rises to 108.90 resistance as Syrian situation escalates

FXstreet.com (New York) - WTI crude oil has recently advanced amidst talk of US intervention in Syria, though probably not to the degree investors were hoping for such as the aftermath of Libya a few years ago.

Resistances in focus

WTI Crude Oil indeed pushed higher, approaching the descending resistance in the daily chart – a break above this resistance will confirm further upside toward the top the sideways range at 108.90, which is the most likely scenario. Thus, further upside is seen over the short-term, notably if the situation in Syria escalates further. In these moments the price of crude is trading at 108.93/bbl during US trading Tuesday.