The oil market today resumed the uptrend that got under way during the first trading week of the year. The Brent price is up 0.51% at $82.15/bbl, and WTI advanced 0.52% to $79.31/bbl.
Since the beginning of 2022, Brent and WTI have climbed over 4%. During this period, crude prices have been impacted by a number of bullish factors, including a decision by OPEC+ on January 4 not to revise its current output plan, waning Omicron fears, and riots in Kazakhstan that triggered a decline in oil production in that country.
Brent will most likely continue to move higher, with the next resistance level in the range of $82-82.4/bbl.
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