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Easing trade tensions drive oil prices higher

Technical Analysis
By Mostafa Mahmoud
Easing trade tensions drive oil prices higher
0 3

USOIL

النفط الخام 12-5-2025

Oil is trading around the $61.50 resistance level, and prices are likely to break above it to target the $64.50 level. However, this scenario would be invalidated if the price breaks below the minor support level of $59.60 in today’s trading.

Support

 59.60 57.40 55.50
Resistance 61.50 64.50

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Oil prices recorded a notable upward movement, supported by easing geopolitical tensions and renewed optimism regarding global trade dynamics.

From a fundamental perspective, improved demand outlook and progress in trade relations between the United States and China are contributing to positive market sentiment, indicating the potential for further gains in the short to medium term.

You can now benefit from LDN company’s services through the LDN Global Markets trading platform.

Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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