Crude Oil Markets Experience Decline in Price

Crude oil markets, including WTI and Brent, have experienced significant falls, with WTI heading towards the $82 level and Brent threatening to reach $85. However, both markets have strong support from the 200-Day EMA, suggesting potential buying opportunities. The possibility of OPEC members cutting back on production continues to be a bullish factor for crude oil, and if the US dollar weakens, it could further strengthen crude oil prices.