WTIUSD

The oil market is fluctuating around the pivot level of 65.916. The first resistance is at 66.674 and the first support is at 64.623, which are being monitored as short-term targets. The U.S. crude oil inventory data to be released on Wednesday will be decisive for prices. Last week, a decrease of 5.836 million barrels in inventories supported oil prices. If a similar decline is observed, a move towards the resistance of 67.209 may occur. If employment data from the U.S. comes in weak, concerns about a slowdown in economic activity could negatively affect oil demand, potentially causing prices to drop to the support level of 63.977. The Manufacturing PMI of China remaining at 49.7 indicates that the demand outlook in the world's largest oil importer is weak.