WTIUSD

Crude oil is hovering around the pivot level of 66.961. The EIA Crude Oil Inventory data to be released today could create volatility in oil prices. The market will closely monitor how the inventories, which showed a decline of -3.859 million barrels last week, will come out this week. If it maintains above the pivot, the resistance levels of 67.490, 68.173, and 68.779 could be targeted. In case of a drop below the pivot, the support levels of 66.278, 65.749, and 65.143 will come into focus. Powell's lack of clear commentary on the economy has had a neutral impact on commodity pricing.