Crude Slips as $60 Fails to Firm Up Ahead of Sanctions

Yesterday’s crude oil action was, in a word, disappointing. Monday night through Tuesday’s U.S. session suggested the $60.00*** level might hold with more conviction, giving the market a chance to consolidate, and breakout above $61.00–$61.25***. That did not materialize. Selling pressure began at the European open (~3:00 a.m. ET) and...2 pumpjacks at sunset by vadimrysev via iStock