WTI OIL OIL DEFENDED 56$-55$ ZONE ,THE NEXT TECHNICAL BUY POSITION WILL BE 60.79$-61$ ,IF THE LAYER IS RESPECTED I WILL HOLD BUY TILL WE BREAKOUT OF 62.188$ PER BARREL hoping to challenge the long term descending trendline holding price as supply roof and dynamic resistance to upswing.
buy target could exceed 66.219-65.567$
WTI (West Texas Intermediate) crude oil is a major benchmark for oil prices, representing light, sweet crude oil primarily produced in the U.S. It is widely used globally to price various grades of crude oil.
As of late October 2025, WTI crude oil prices have been trading around $61.745 per barrel. The recent price movement reflects several fundamental factors:
Supply Constraints: Ongoing production cuts by OPEC+ members and U.S. sanctions on key oil-producing countries are tightening supply, supporting prices.
Demand Dynamics: Global economic concerns, including slowing growth in major economies, have weighed on demand outlook, causing price volatility.
Inventory Levels: U.S. crude inventory data and storage capacity utilization have affected market sentiment with fluctuating stockpile levels.
Geopolitical Risks: Tensions in the Middle East and trade uncertainties continue to keep risk premium in prices.
Energy Transition Policies: Shifts toward renewable energy and emission reduction targets are influencing longer-term demand forecasts.
In summary, WTI prices near $61-62$ are driven by a mix of supply discipline, cautious demand outlook, and geopolitical uncertainties, creating a balanced but volatile oil market environment
This fundamental backdrop suggests that price action in WTI will remain sensitive to OPEC+ decisions, U.S. economic data, and geopolitical developments.
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