WTI off highs, still below $45.00

By FXStreet FXStreet (Edinburgh) – The barrel of the American benchmark for the light crude oil keeps its daily gains, although it has deflated from session peaks in levels just shy of the $45.00 mark.

WTI firmer ahead of FOMC

Crude oil prices continue to consolidate in a bumpy range around the mid-$40.00s after being rejected from the vicinity of the psychological $50.00 handle in late August.

While traders keep their focus almost exclusively on the FOMC meeting on Thursday, the usual jitters on the health of the Chinese economy and the rest of the emerging markets plus concerns over the global supply glut have been momentarily moved to the back burner.

WTI levels to watch

The barrel of WTI is now up 1.11% at $44.49 facing the next hurdle at $44.97 (high Sep.14) followed by $46.04 (high Sep.10) and finally $48.42 (high Sep.3). On the other side, a break below $43.59 (low Sep.14) would open the door to $43.36 (low Sep.10) and then $43.21 (low Sep.2).
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Source:: FX Street