WTIUSD

WTI oil prices are showing a slight increase due to Israel's attacks on Lebanon. However, the rise in oil inventories announced by the U.S. Energy Information Administration is creating limited pressure on the market. Continuing uncertainties in global markets and movements in U.S. and European stock exchanges may influence the direction of oil prices. In addition, the PCE inflation in the U.S. and the upcoming elections stand out as determining factors in the course of oil prices.

In the technical outlook, while WTI oil prices move towards the resistance of 69.5 in the daily chart, the range of 68.5 – 68 is monitored as a support level. The RSI indicator is at 48, indicating a neutral trend. If prices surpass the 69.5 resistance, 70 and 70.5 levels could be seen as new targets. In downward movements, the level of 68 can be followed as an important support point. WTI, trading with a limited decrease of 0.03% compared to the previous day, is moving within a narrow band.