FXStreet reports that strategists at TD Securities discuss WTI oil prospects.

“Based on the lower demand projections due to the new wave of COVID and the production increases by OPEC+, WTI should continue to trade below the $70/b mark for the majority of the remainder of the year. In short, traders will react to the fundamentals which flipped from projected deficits in H2-2021 to modest surpluses moving forward.”

“A drift toward the recent lows of $60-65/b is quite possible on any additional developments which could drive demand lower or supply higher.”