Brent Crude - Chinese data and resumed Libyan output weigh on oil - MarketPulse

Chinese growth underwhelmsLibya resumes production after brief outageKey technical support levels still belowOil prices pulled back from last week’s highs today, weighed down by the weaker Chinese figures and reports of some Libyan outages being restored. It also falls around the 100-day SMA which could be viewed as a bullish signal, despite the early week setback. That’s not to say a move below here would be a bearish move; it could prove to be of course but there are other potential support levels below. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. © 2023 OANDA Business Information & Services Inc.