BRNUSD

Crude oil futures started the week with a decline. The American Petroleum Institute announced a 9 million barrel increase in inventories. If this increase is confirmed by the stock data to be released today by the U.S. Energy Information Administration, it will be recorded as the fastest two-week stock increase in the past year. Additionally, supply concerns regarding Russia and Iran are significant factors limiting the decline. Throughout the day, stock data and U.S. inflation figures will be closely monitored.

If prices continue to remain above the support levels of 76.00 – 76.50, an upward outlook can be anticipated. In potential rallies, the levels of 77.00 and 77.50 could be targeted, while maintaining support at 76.00 – 76.50 during downturns may indicate new upward potential. Closings below 76.00 could bring levels of 75.50 and 75.00 into focus.