WTI treading water below $50.00/bbl

FXStreet (Edinburgh) - The American benchmark of the light crude oil remains on the back footing as we enter the last part of the session in Wall Street, currently hovering over the $49.00/bbl mark.

The barrel of WTI is retreating for the second consecutive session after being rejected once again in the $54.00/20 area (February 3rd / 9th). In the same direction, the ongoing softer tone in the crude oil is aggravated by the solid performance of the US dollar.