Despite oil reaching levels not seen since the early days of November last year, over the past week, WTI has broken below the $80 psychological figure following worrying financial releases stemming from China. In this report, we aim to shed light on the factors driving WTI’s price, assess its future outlook and conclude with a technical analysis. In last week’s oil report, we mentioned that should market worries about China’s recovery are intensified it may hurt oil prices, the above now seems to have materialized following the release of China’s Industrial production rates that were released on Tuesday. The ... (full story)