Oil Price Stuck Near $60 Amid Geopolitical Tensions
Oil prices remain near $60, driven by global uncertainty. In the Middle East, tensions persist as Israel continues its military actions in Gaza. Meanwhile, the war between Ukraine and Russia continues despite U.S. efforts to mediate. Reports indicate that Russia has used North Korean weapons to intensify missile strikes on Ukrainian infrastructure, raising concerns about Moscow’s reliance on Pyongyang.
Adding to the uncertainty, Trump’s tariff policies are creating instability for major economies. However, OPEC+ has pledged to increase oil production in July, which could push prices lower.
For now, $60 remains a strong support level. If the price breaks below this barrier, further declines could follow, as indicated on the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
Oil prices remain near $60, driven by global uncertainty. In the Middle East, tensions persist as Israel continues its military actions in Gaza. Meanwhile, the war between Ukraine and Russia continues despite U.S. efforts to mediate. Reports indicate that Russia has used North Korean weapons to intensify missile strikes on Ukrainian infrastructure, raising concerns about Moscow’s reliance on Pyongyang.
Adding to the uncertainty, Trump’s tariff policies are creating instability for major economies. However, OPEC+ has pledged to increase oil production in July, which could push prices lower.
For now, $60 remains a strong support level. If the price breaks below this barrier, further declines could follow, as indicated on the chart.
You may find more details in the chart!
Thank you and Good Luck!
❤️PS: Please support with a like or comment if you find this analysis useful for your trading day❤️
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
✅MY Free Signals
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
t.me/TradingPuzzles
✅Personal Telegram
t.me/KlejdiCuni
✅YouTube
youtube.com/@TradingPuzzles
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.