WTI Finds Support After Sell Off Suddenly Halts

WTI crude found resistance at $81 per barrel this morning, countering a sell-off as traders discount geopolitical risk.Despite Strong Production Momentum, US Oil Majors Fail to Impress- ExxonMobil and Chevron reported a combined net profit of $13.7 billion in their Q1 2024 earnings, $8.2 and $5.5 billion respectively, as oil majors saw squeezed natural gas prices and lower refinery margins, marginally offset by higher oil production. - ExxonMobil’s Q1 results have disappointed the market, prompting the largest intraday decline since…