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USOIL chart - Trading View
US oil was trading above the $60 mark as OPEC+ nations are likely to reconsider whether to rollover output cuts.
OPEC+ concerned about the demand recovery for oil amid rising coronavirus infections and lockdown measures worldwide.
West Texas Intermediate (WTI) jumps over 1.85% to trade at 60.56 at around 10:00 GMT.
From a technical perspective, WTI has held support at 55-EMA and any major weakness only on break below.
Price action is extending sideways, remains sandwiched between 21 and 55 EMAs. Breakout will provide a clear directional bias.
