đź‘€ Possible scenario:
Oil prices steadied on June 26 after erasing earlier gains as investors remained cautious about the Iran-Israel ceasefire and refocused on market fundamentals. Brent crude is trading around $66.80 per barrel.
U.S. crude oil and fuel inventories fell sharply in the week ending June 20, with crude stocks dropping 5.8 million barrels—well above the expected 797,000-barrel decline, the Energy Information Administration (EIA) reported. Crude production rose slightly by 9,000 barrels per day to 13.43 million b/d. Meanwhile, crude imports decreased by 102,000 b/d to 6 million b/d, and exports fell by 8,000 b/d to 3.96 million b/d. OPEC+ may accelerate output hikes by about a year, according to Rosneft’s CEO. Analysts noted oil prices tracked equities lower amid these mixed signals.
âś… Support and Resistance Levels
Now, the support level is located at 66.10.
Resistance levels are now located at 77.50 .
Oil prices steadied on June 26 after erasing earlier gains as investors remained cautious about the Iran-Israel ceasefire and refocused on market fundamentals. Brent crude is trading around $66.80 per barrel.
U.S. crude oil and fuel inventories fell sharply in the week ending June 20, with crude stocks dropping 5.8 million barrels—well above the expected 797,000-barrel decline, the Energy Information Administration (EIA) reported. Crude production rose slightly by 9,000 barrels per day to 13.43 million b/d. Meanwhile, crude imports decreased by 102,000 b/d to 6 million b/d, and exports fell by 8,000 b/d to 3.96 million b/d. OPEC+ may accelerate output hikes by about a year, according to Rosneft’s CEO. Analysts noted oil prices tracked equities lower amid these mixed signals.
âś… Support and Resistance Levels
Now, the support level is located at 66.10.
Resistance levels are now located at 77.50 .
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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.