WTIUSD

Oil continues to maintain its weak trend following weekly inventory increases. Today, the direction of the dollar index and global risk appetite may influence the weekly closing. While demand concerns limit prices, news flow related to supply (geopolitical/supply disruptions) poses upward risks.

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

Sustaining above 70.702 could bring 71.957 and 73.212 back into focus. If 68.193 is broken, the 66.416 interim support may gain significance.