Crude oil - DAILY- 15/09/2025Oil prices extended last week’s gains as traders weighed rising geopolitical risks against forecasts of a surplus later this year. US President Donald Trump renewed pressure on Europe to cut Russian oil purchases and floated sanctions if NATO allies comply, while the US is also pushing G7 partners to impose tariffs on China and India for buying Russian crude.
Market sentiment remains shaped by escalating tensions, including Israeli strikes in Qatar and Ukrainian drone attacks on Russian refineries. Analysts warn that sanctions and infrastructure damage could push prices higher in the short term, but expectations of a supply overhang and OPEC+ production increases keep downside risks in focus.
On the technical side, the price of crude oil has retested the major support area of $62 and has since rebounded to the upside. The Stochastic oscillator is back in neutral levels for the time being, hinting that the recent bullish correction could project into the near short term while the Bollinger bands are sufficiently expanded, showing that there is volatility to support any short-term spikes.
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