WTIUSD

Oil futures continue to trend downward as expectations of a global supply glut resurface. Uncertainty created by trade tariffs and the diminishing likelihood of sanctions being lifted on Russia are emerging as two main factors behind the market decline. Throughout the day, the performance of European and US stock markets, along with growth data from the US, should be closely monitored.

If prices remain below the resistance levels of 69.00 – 69.50, the downward trend may strengthen. In the event of a decline, levels of 68.00 and 67.50 can be targeted. For upward movements to persist, it is crucial to watch for closures above 69.50; in this case, levels of 70.00 and 70.50 may also come into play. Notable levels for the day include 69.00 – 69.50.