WTI up over 2% as Libya announces force majeure

Oil continues to extent on gains after Libya announced a force majeure on all facilities, terminals and oil fields.

Next major resistance on the chart is the 200DMA coming up around $77.76. It also has confluence with the 2 standard deviation implied volatility high for the day.

This article was written by Arno V Venter at www.forexlive.com.