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WTI Price Forecast: Oil struggles below $60 as bullish momentum fades
Key Takeaways (30s Read)
WTI struggles below $60 as bullish momentum fades amid easing geopolitical tensions.
WTI prices are struggling below $60, with a notable decline seen on Thursday. This decline comes as geopolitical risk premiums ease, following President Trump's softened rhetoric regarding Iran which alleviated concerns of immediate military engagements. Although WTI showed a brief rebound, the bullish momentum appears to be fading, with the psychological barrier around the $60 mark acting as a resistance level. Market participants will need to keep an eye on upcoming U.S. economic indicators and supply-side factors to gauge future price movements. Expect the influence of inventory data and OPEC's policy decisions to remain significant.
AI Analyst
AI Opinion
"Current WTI market dynamics indicate a fading bullish momentum alongside easing geopolitical risks. Trump's comments have impacted investor risk preferences, resulting in a price stalemate. The key focus going forward will be whether WTI can maintain above the $60 threshold. Industry observers must continuously track supply conditions and demand shifts, remaining attentive to key economic indicator releases. Particularly critical are inventory reports and OPEC meetings, as these factors may enhance market volatility significantly."
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