WTIUSD

Oil futures started the new week with a decline. The inflation in China remaining lower than expected has increased the uncertainty created by Trump’s policies, putting pressure on the markets. OPEC+’s decision for a gradual production increase starting in April has also contributed to the drop in prices. Today, movements in European and US stock markets should be closely monitored.

As long as prices remain below the resistance level of 67.00, a downward trend may be prominent. Targets during declines could be the 66.00 and 65.50 levels. In potential recoveries, the 67.00 resistance is critically important; closings above this level may bring new upward potential into consideration. In this case, the 67.50 and 68.00 levels should be monitored. The key level for the day: 67.00.