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Oil rises, driven by stalled export resumption

Technical Analysis
By Ahmed Ashraf
Oil rises, driven by stalled export resumption
0 2

USOIL

النفط 24-9-2025

Oil is trading below the resistance zone at $64.25, and prices are likely to decline and retest the support level at $61.50. This scenario would be invalidated if the aforementioned resistance zone is broken to the upside.

Support

 61.50 60 –
Resistance 64.25 66

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In today’s session, oil extended its gains, supported by data showing a decline in U.S. inventories, along with the continued halt of Kurdistan’s oil flows since March 2023, which reinforced expectations of tighter supply. Brent crude rose to trade near $67.7 per barrel, while West Texas Intermediate climbed to around $63.5. The main support for prices comes from supply-side pressures, both from Iraq and Russia, although market caution over the Federal Reserve’s policy outlook continues to limit further upside momentum.

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Ahmed Ashraf

Technical Analyst & Economic Researcher at LDN Global Markets

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