USOIL![النفط الخام 18-2-2026]()
Oil is trading around the $62 support level, and prices are likely to break below it and target the $59.45 level. This scenario would be invalidated by a break above the $66 resistance level during today’s trading session.
|
Support |
62.00 | 59.45 |
| Resistance | 66.00 |
66.50 |
The global crude oil market witnessed a decline in prices, with Brent and WTI crude trading around $62 per barrel. This drop came after improved market sentiment due to progress in talks between the United States and Iran, which eased concerns over potential disruptions to oil supplies through the Strait of Hormuz. Selling pressure and profit taking following previous gains also contributed to the downward trend, amid volatile trading and moderate liquidity, reflecting investors’ cautious anticipation of any developments that could impact oil markets in the coming days.
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It’s clear that profit-taking is playing a role in the current price decline. With volatility in these market conditions, I’m wondering if oil prices will be more susceptible to swings in the short term, especially if geopolitical factors continue to shift.
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