USOIL we didn't even see stop-loss hunting today.... very oddU.S. DOLLAR / WTI CRUDE OIL forum
USOIL we didn't even see stop-loss hunting today.... very oddUSOIL I need a nap :-(USOIL you can do it bust out
WTICOUSD Analysing today's data. The fall in U.S. Strategic Petroleum Reserve (SPR) and crude oil prices today, July 16, 2025, is driven by a mix of supply and demand dynamics:📉 Key Reasons for the SPR and Oil Price Decline
1. Crude Inventory Drop
- U.S. crude stockpiles fell by 3.9 million barrels, far exceeding analyst expectations of a 552,000-barrel draw.
- This signals stronger export activity but also raises concerns about domestic supply tightness.
2. Surge in Exports
- Crude exports jumped by 760,000 barrels/day, reaching 3.5 million bpd, which contributed to the inventory draw.
- While this supports global supply, it reduces domestic reserves like the SPR.
3. Weak Fuel Demand
- Gasoline and distillate inventories rose sharply:
- Gasoline: +3.4 million barrels
- Distillates (diesel/heating oil): +4.2 million barrels
- This reflects sluggish demand, with gasoline consumption dropping by 670,000 bpd.
4. Geopolitical Easing
- The White House softened its stance on a 50-day deadline for Russia, reducing fears of immediate supply disruptions.
- Traders responded by taking profits, pushing WTI crude below $66.00.
5. Market Sentiment
- The EIA report was seen as “disappointing on the demand side,” which weighed on sentiment.
- Brent and WTI futures both extended losses, with WTI falling to $65.81 per barrel.
USOIL I don't think CUSHING has the oil for delivery.
WTICOUSD whether this has legs to crack today's London open is doubtful but we have all seen oil do stranger things. Anyhow, if you in buys keep an eye on your buys as we hit resistance at today's and yesterday's series of opens. As we have formed a very large resistance zone.
USOIL Measured move to $60 range
USOIL On the Hourly that is in Bullish (directional) Market Bias, it could flip to its opposite if the bulls rise above the thin S&R Zone in order to cross the Bearish Trendline (in red dotted line). Watch to see if it happens first.With a change in market bias to bullish from the trendline break, the bulls can rise more to potentially breach the Swing Highs of 66.97 and 67.10, then back down for a retest of the Bearish Trendline.
Afterwards, it can rise again.
OILUSD oil to $100
USOIL HeadShoulder pattern is forming. watch 66.22 USD Level closely.