WTIUSD

Oil prices will focus on two important data points today. The ISM Services PMI, which will be announced at 5:00 PM, will shed light on economic activity in the United States, the world's largest oil consumer, and thus the demand outlook. Following that, the weekly Crude Oil Stock data to be released at 6:30 PM will shape market expectations regarding the short-term supply-demand balance. For the commodity priced near the pivot level of 60.70, support is at 60.05 and resistance is at 61.17.