Wti drops from recent high, falls to $63.80-$63.75 before us-china trade negotiations

The start of the new week sees a slight decline in West Texas Intermediate WTI US Crude Oil prices, as they give back some of the gains from Fridays strong rally. Prices have reached just above the $64.00 mark, which is the highest level since April 23. This slight dip in prices could be attributed to profit-taking by investors after the recent surge. However, overall, WTI Crude Oil prices remain at a healthy level and continue to show signs of strength. It is worth noting that this is a conservative estimate, as prices could potentially rise even higher in the coming days. The current market conditions suggest that the demand for WTI Crude Oil remains strong, which is expected to support prices in the near future.The recent increase in WTI Crude Oil prices can be attributed to a combination of factors. Firstly, the ongoing tensions in the Middle East have caused concerns about potential disruptions to oil supply in the region. This has led to an increase in demand for WTI Crude Oil, as it is seen as a safe haven for investors during times of geopolitical uncertainty. Additionally, the easing of trade tensions between the US and China has also contributed to the rise in prices. As the two countries continue to make progress towards a trade deal, it is expected that the demand for WTI Crude Oil will continue to increase.Despite the recent gains, there are still some concerns about the global economic outlook, which could potentially impact WTI Crude Oil prices. The ongoing trade tensions between the US and China, as well as other major economies, could potentially lead to a slowdown in global economic growth. This could have a negative impact on the demand for oil, which could in turn lead to a decrease in prices. Furthermore, the recent increase in US oil production could also put downward pressure on prices in the long term.In conclusion, while WTI Crude Oil prices have started the week on a slightly softer note, they remain at a healthy level and show signs of strength. The ongoing tensions in the Middle East and the easing of trade tensions between the US and China are expected to support prices in the near future. However, concerns about the global economic outlook and increasing US oil production could potentially impact prices in the long term. Investors will continue to closely monitor market conditions to make informed decisions about their investments in WTI Crude Oil