👀 Possible scenario:
Crude oil fell to $68.00 on July 3 as markets braced for the possible return of higher U.S. tariffs after July 9 and a likely OPEC+ output hike of 411,000 bpd this weekend. Brent rebounded to $68.70.
Weak Chinese service data and a surprise 3.9M-barrel U.S. crude stock build added pressure. Gasoline inventories rose by 4.2M barrels, while distillates fell by 1.7M. Analysts expect short-term rallies to fade as bearish fundamentals—rising supply, weaker demand, and the loss of OPEC’s price support—begin to outweigh geopolitical risk. With the July 4 holiday ahead, traders are avoiding large positions.
✅Support and Resistance Levels
Now, the support level is located at 66.10.
Resistance levels are now located at 69.10 and 77.50 .
Crude oil fell to $68.00 on July 3 as markets braced for the possible return of higher U.S. tariffs after July 9 and a likely OPEC+ output hike of 411,000 bpd this weekend. Brent rebounded to $68.70.
Weak Chinese service data and a surprise 3.9M-barrel U.S. crude stock build added pressure. Gasoline inventories rose by 4.2M barrels, while distillates fell by 1.7M. Analysts expect short-term rallies to fade as bearish fundamentals—rising supply, weaker demand, and the loss of OPEC’s price support—begin to outweigh geopolitical risk. With the July 4 holiday ahead, traders are avoiding large positions.
✅Support and Resistance Levels
Now, the support level is located at 66.10.
Resistance levels are now located at 69.10 and 77.50 .
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。