Despite a support zone near $65.00, crude's momentum remains bearish, and a decisive drop may lead to a test of $64.50 or lower.
Oil prices slip as EU-US tariff tensions escalate, while natural gas breaks key support, signaling further bearish momentum.
WTI crude oil continues to decline toward $64, showing bearish price action, while natural gas displays price uncertainty above $3.
Carole Nakhle, CEO of Crystol Energy explains why the EU's latest oil price caps on Russia are likely to be more effective than previous sanctions. However, she says U.S. sanctions on buyers of Russian oil will be the real "game-changer", adding that India will be the most affected.
Crude oil holds $65.38 long-term support as traders weigh Fed policy, OPEC signals, and EU sanctions. Oil outlook stays neutral without breakout.
The FTC reversed an order barring Scott Sheffield from Exxon's board, but the former Pioneer CEO said he was no longer interested in joining.
Oil prices were little changed on Friday after rising in the previous session as concerns drone attacks on northern Iraqi oil fields will cut supply vied with worries of potential demand declines amid uncertainty in U.S. tariff policy.
The crude oil market continues to see a lot of support just below, as the markets are trying to retain the recent breakout above what had been a massive barrier for some time. This is a market that is slightly bullish overall.
The Organization of the Petroleum Exporting Countries said it anticipates an easing of global trade tensions in the coming weeks and kept its oil-demand forecast unchanged as it continues to ramp up output.
Crude oil retreats as Trump's 50-day sanction delay eases supply fears. WTI breaks support, risking further downside amid weak China data.
Kazakhstan's oil output in the first half of 2025 rose by around 11.6% to 49.9 million metric tons from the same period in 2024, while the country has no plans to leave the OPEC+ group of global leading oil producers, senior officials said on Tuesday.
WTI crude oil consolidates near the $66 support level, while natural gas trades within an ascending channel and maintains a bullish outlook.