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Indonesia News Portal for Traders | Financial & Business Updates

20 January 2026 07:44  |

Oil Flat, Market Monitors Greenland Drama

Oil traded nearly flat as the market monitored the impact of the Greenland drama, which has fueled concerns about a US-EU trade war. WTI held around $59/barrel, while Brent closed around $63.94/barrel.

However, prices remained under pressure from signals of a global surplus, as supply is believed to be rising faster than demand. However, disruptions in the Black Sea export route and problems at Kazakhstan's Tengiz field provide a thin cushion for short-term supply. (asd)

Oil price at the time of this analysis was $64.17

- Buy if the price moves within $62.99

- Sell if the price moves within $62.89

Resistance 2: $63.24

Resistance 1: $63.09

 

Support 1: $62.79

Support 2: $62.64

Disclaimer:

This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id

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