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Tensions Are Rising — Oil Traders, Stay Alert

Technical Analysis
By Mostafa Mahmoud
Tensions Are Rising — Oil Traders, Stay Alert
0 6

USOIL

النفط الخام 31-7-2025

Oil is trading below the resistance level of $70.45. Prices are likely to retest the support level at $67.75. This scenario would be invalidated if the aforementioned resistance level is breached to the upside.

Support

 67.75 64.20 62.25
Resistance 70.45 75.50

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Oil prices recorded a notable increase in today’s trading, with Brent crude rising above the $85 per barrel mark. This surge was supported by a significant drop in U.S. oil inventories to their lowest levels in weeks, along with signs of recovering demand in Asian markets particularly from China and India. Additionally, anticipation of potential production cut decisions by the OPEC+ alliance boosted investor appetite for oil, as producing countries aim to maintain price stability. An improvement in the performance of energy companies in financial markets was also observed, reflecting growing confidence in the return of balance between supply and demand.

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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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