WTIUSD

U.S. weekly crude oil stocks, announced on Wednesday and showing a higher-than-expected increase, put pressure on oil prices. Today, the U.S. PPI data and the general trend of the dollar will also be influential in pricing. A strong dollar and concerns about global economic slowdown are weakening oil demand, while geopolitical tensions keep supply concerns alive, supporting prices.

Technical Levels: 73.212 - 71.957 - 70.702 - 68.193 - 66.416 - 65.683 - 64.428

With the increased selling pressure following the stock data, the 68.193 main support level may be targeted; if this level is broken, 66.416 may come into play. If prices rise above the 70.702 pivot level, the resistances of 71.957 and 73.212 may be tested again.