WTIUSD

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WTIUSD

Crude oil prices are focused on the U.S. crude oil inventory data that will be released today. Last week, an increase of 2.553 million barrels was recorded in inventories. A rise in inventories above expectations could put pressure on prices. However, geopolitical tensions and China's better-than-expected growth data (5.4%) support positive expectations for oil demand. Technically, the $60.61 level is an important support point, while $63.63 is a critical resistance level that needs to be surpassed. The trajectory of oil prices may be influenced by today's inventory data, as well as Powell's statements and tomorrow's ECB decision.

Support :

60.611 - 59.987 - 59.324

Resistance :

62.639 - 61.937 - 61.274