Brent oil is currently trading at $67.58 per barrel, having defended the 50-hour moving average (MA) support, currently at $67.44, over the last 12 hours. Prices clocked a four-month high of $68.18 yesterday after the American Petroleum Institute reported a surprise draw in crude oil inventory of 2.133 million barrels for the week ending March 15. The break above $68.00, also fueled by OPEC's decision to extend supply cuts to June, was short-lived, possibly due to fading trade optimism. Bloomberg reported yesterday that Trump administration is worried China may be reneging on certain trade concessions. The report ... (full story)