As more details emerged of US sanctions exemptions and the US-China trade war stoked concerns over slowing global growth that underpins energy consumption, WTI has plummeted...

WTI is down 7 days in a row. Every big figure on the way down saw technical support/resistance...

"The U.S. has for now given a lifeline to Iran," said Olivier Jakob, managing director at consultants Petromatrix GmbH in Zug, Switzerland.

"The end result of the sanctions is softer than expected. The final outcome of the sanctions also confirms the political fear of high gasoline prices."