Reuters analyst says US oil December futures could revisit $101.37 high
Reuters analyst Wang Tao says US oil December futures are poised to retest the Oct. 20 high of $101.37 after clearing the $100.06 barrier.
- published on Newsmetry
- original source published
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner. connect the api →
what happened
In a technical analysis published by Reuters, market analyst Wang Tao writes that the US oil December contract is poised to return to its October 20 high of $101.37 per barrel. According to the note, the contract has already cleared $100.06, which the author sees as the last barrier on the way up. This level is tied to a 14.6% retracement of the uptrend that began at $92.39.
The author cites a confirmed bullish triangle that points to a target of $104.11. On the daily chart, the uptrend remains inside a rising channel, and a projection analysis gives a level near $107.87.
why it matters
Traders track technical levels like these because they can shape short-term positioning across the market. The same analysis says a break below $100.06, which would then act as support, could open a move into the $97.94-$99.25 range. These are the author's own views and not investment advice, so the levels should be read as one opinion among many.
tags
instruments
sources
- US oil poised to revisit Oct. 20 high of $101.37 — Reuters, 23 October 2026 at 02:36 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
the public page opens no earlier than 15 minutes after we detect the story. approved stories may reach the api sooner.
get stories in real time ↗