đź‘€ Possible scenario:
Crude oil prices held steady on May 28 amid OPEC+ talks and the loss of Chevron’s Venezuelan exports. Brent was $64.20/barrel, WTI $60.94. The U.S. barred Chevron from exporting Venezuelan oil, raising supply concerns and boosting reliance on Middle Eastern crude.
OPEC+ meets May 28, with a possible July output hike May 31. The U.S. remained a net energy exporter in February, with exports down 5% and imports down 6%, per EIA data. U.S. crude inventories likely rose 2.4 million barrels last week. Gasoline stocks fell 0.5 million barrels; distillate and jet fuel stocks increased. The EIA report is due May 28.
âś…Support and Resistance Levels
Now, the support level is located at 63.08.
Resistance levels are now located at 64.60 and 65.75 .
Crude oil prices held steady on May 28 amid OPEC+ talks and the loss of Chevron’s Venezuelan exports. Brent was $64.20/barrel, WTI $60.94. The U.S. barred Chevron from exporting Venezuelan oil, raising supply concerns and boosting reliance on Middle Eastern crude.
OPEC+ meets May 28, with a possible July output hike May 31. The U.S. remained a net energy exporter in February, with exports down 5% and imports down 6%, per EIA data. U.S. crude inventories likely rose 2.4 million barrels last week. Gasoline stocks fell 0.5 million barrels; distillate and jet fuel stocks increased. The EIA report is due May 28.
âś…Support and Resistance Levels
Now, the support level is located at 63.08.
Resistance levels are now located at 64.60 and 65.75 .
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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.