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USOIL chart - Trading View
West Texas Intermediate (WTI) hit multi-month highs just shy of $67 mark as U.S. and Europe set to reopen economies.
Oil prices hit levels unseen since March 8th as optimism over easing of restrictions in Western countries helped offset COVID-19 jitters in Asia.
Also, U.S. dollar weakness, driven by dovish Fed expectations is another factor that is supporting commodity prices.
WTI crude oil has trimmed a part of its intraday gains and was trading at $65.92 at around 15:10 GMT.
Focus on API inventory report for short-term trading opportunities later during the US session.
