WTIUSD

Crude oil is trading at the pivot level of 68.62, trapped between support levels of 67.42, 66.62, and 65.41, and resistance levels of 69.83, 70.46, and 71.60. The most critical development this week will be the Crude Oil Inventories report to be released on Wednesday. Last week, a stock decrease of 5.836 million barrels was recorded, and a similar decline is expected this week, which could support the upward potential in oil. Additionally, employment and growth indicators from the U.S. will shape expectations for oil demand. If the data comes in strong, it is likely that oil will break through the 69.83 resistance and head towards the 70.46 level.