31 Jul 2025
🛢️ Crude Oil (WTI) Price Forecast
WTI Crude Oil prices opened bearishly during Thursday’s early European session, trading at $69.45 per barrel, down from Wednesday’s close at $69.83. The decline reflects cautious sentiment as traders await further clarity on geopolitical tensions and upcoming U.S. economic data.
Brent crude is also retreating, currently priced at $72.24, down from $72.61 in the previous session.
🔍 Technical Outlook:
WTI faces immediate downside pressure below the $69.80–70.00 resistance zone.
A breakdown below $69.00 could lead to further declines toward the $68.20 and $67.70 support levels.
The broader bias remains bearish unless prices reclaim and sustain above the $70.50 level.
📉 Market Sentiment:
Bearish short-term sentiment is driven by:
Weak demand outlook.
Uncertainty around U.S. sanctions threats on Russian oil exports.
Inventories showing mixed signals on product demand.
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