There were some musings about violence in Libya underpinning oil earlier in the day but worsening risk appetite and negative momentum in oil prices are weighing on crude. Libya also reiterated that it’s preparing to re-open tow oil ports. I hold some bearish bets on oil and I have been talking about declines.
WTI crude oil daily w 55-day MA
I continue to look for a test of support in the $102/barrel zone.