WTI dips to lows near $46.00, FOMC eyed

Crude oil prices are extending their weekly decline today, with the West Texas Intermediate dropping to the $46.00 area per barrel.

WTI weaker ahead of US releases

The barrel of WTI is losing ground since Monday’s peaks above the $49.00 mark amidst a pick up in the risk aversion sentiment following renewed jitters on ‘Brexit’ consequences.

Prices for the black gold will remain under pressure via USD-dynamics and in light of the US ADP report, trade balance figures, ISM Non-manufacturing and the FOMC minutes, all expected later in the NA session.

WTI levels to consider

At the moment the barrel of WTI is down 0.94% at $46.18 facing the next support at $45.83 (low Jun.17) ahead of $43.03 (low May 10) and the $40.63 (200-day sma). On the flip side, a break above $50.54 (high Jun.22) would open the door to $51.67 (2016 high Jun.8) and then $53.85 (high Jul.10 2015).