Oil touches its highest levels since 31 May
A quick climb for oil sees price move up from $54.50 to highs of $55.37 currently as tensions in the Persian Gulf is helping to give oil a further boost on the day. Brent has also risen to a high of $63.64, rising by more than 2.5% on the day now.
Oil was already trading a little higher following weakness in the dollar but gains are extending now following the report here.
The key daily level to watch out for today will be the 10 June high at $54.85. Stay above that and it’ll help bulls build some added momentum to the upside.