Oil Prices Pressured by OPEC+ Catalyst
Brent Crude prices fell again, signaling continued pressure on the global energy market. This decline was largely driven by supply concerns that OPEC+ would consider additional production increases at its meeting later this week, after previously relaxing production cuts of around 2.5 million barrels per day from April to September 2025.
Meanwhile, data from the United States showed an unexpected increase in crude oil inventories of 622,000 barrels, exacerbating downward pressure on prices.
Oil prices at the time of writing were at $66.58
- Buy if the price moves below $66.63
- Sell if the price moves below $66.53
Resistance 2: $66.88
Resistance 1: $66.73
Support 1: $66.43
Support 2: $66.28
DISCLAIMER
Note: This article is analytical in nature and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
