WTIUSD

Oil futures declined following the announcement by the Iraqi government that it had completed all necessary procedures for the re-export of oil from the north via the Iraq-Turkey pipeline. Additionally, ceasefire efforts in Ukraine have been among the significant factors exerting pressure on prices. Movements in European and U.S. stock markets will be closely monitored throughout the day.

As long as prices remain below the resistance levels of 70.50-71.00, a downward outlook may prevail. In the event of a decline, targets could be set at the support level of 70.00, followed by 69.50 and 69.00. If prices maintain levels above 71.00, the focus could shift to 71.50 and 72.00. Therefore, it is crucial to monitor these key levels for the continuation of upward momentum.