NYMEX crude oil prices rebounded by more than 1% after the weekend meeting between former US President Donald Trump and Ukraine President Volodymyr Zelensky ended without clear solutions on key issues.
Energy News
WTI Crude Oil Price Forecast: Bearish Trend Keeps WTI Below $60 – Market Under Pressure
WTI crude oil price are stuck below the important $60 mark due to a strong bearish technical setup. Selling pressure continues as traders stay cautious about global demand and rising supply conditions. Until WTI breaks above $60 with strong volume, the trend is likely to remain weak. Technical charts also show that sellers are still in control, and any bounce may face resistance near higher levels.
Crude Oil Outlook: Prices Likely to Stay Stable After Recent Volatility
Crude Oil Outlook: WTI’s price appears to have stabilised somewhat since our last report. In today’s report we are to have a look at fundamental issues that could alter its direction, including the US peace plan for the war in Ukraine, OPEC’s intentions, and the state of the US oil market. We are to conclude the report with a technical analysis of WTI’s daily chart.