WTIUSD

Crude oil futures experienced a slight calm after increasing their gains due to geopolitical risks during the Asian session. Concerns that negotiations between Ukraine and Russia have made insufficient progress, along with the perceived weakness of a potential agreement between Iran and the U.S., contribute to this situation. Throughout the day, European and U.S. stock markets, as well as the inventory data to be released by the American Petroleum Institute, can be monitored.

If prices remain above the support level of 62.00 – 62.50, the upward trend can be maintained. In the event of further increases, the targets could be the levels of 63.50 and 64.00. However, if prices fall below the 62.00 – 62.50 support, the 61.50 level may come into play. Therefore, it is crucial to pay attention to closures below 62.00 for the continuation of bearish sentiment.