WTIUSD

Oil futures began the week lower, influenced by the possibility of a ceasefire between Russia and Ukraine, the U.S. delaying tariffs, and the potential resumption of exports in northern Iraq after two years. Throughout the day, movements in European and U.S. stock markets may be closely monitored.

As long as prices remain below the 71.00 – 71.50 resistance level, a downward trend may be prominent. In potential declines, levels of 70.00 and 69.50 could be targeted. If the 71.00 – 71.50 resistance holds, new downward potential may emerge. To continue the upward momentum, it’s important to observe movements and hourly closes above 71.50. In this case, levels of 72.00 and 72.50 may come into play. The critical levels for the day are notably 71.00 – 71.50.