04 Nov 2025
🛢️ Crude Oil Holds Range as Weak Demand and Fed Uncertainty Weigh on Outlook
📊 Market Overview:
Crude oil continues to trade sideways as traders weigh OPEC+ supply moves, global demand signals, and Federal Reserve policy uncertainty.
Brent Oil (BCO): around $65 (-0.25%)
WTI Oil (CL): trading below $62 (-0.23%)
🧭 Key Factors Moving the Market:
1️⃣ OPEC+ Output Adjustment:
OPEC+ confirmed a modest output hike of 137,000 barrels/day for December but signaled a pause on further increases in early 2026, helping stabilize prices.
2️⃣ Weak Global Demand:
Sluggish manufacturing and a stronger U.S. dollar continue to pressure oil demand, keeping bulls cautious.
3️⃣ Fed Uncertainty:
Traders remain on edge as the Federal Reserve’s next move on interest rates remains unclear — adding volatility to energy markets.
4️⃣ Geopolitical Watch:
Rising tensions in Nigeria raise fresh concerns over potential supply disruptions.
📉 Outlook:
Oil remains range-bound in the short term, with limited momentum until demand improves or the Fed provides clearer policy signals.
💡 Key Support: $61.50
💡 Resistance Zone: $65.80 – $66.20
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