WTIUSD

WTI oil prices are on an upward trend amid increased tensions in the Middle East and the impact of Israel's attacks on Lebanon. However, the data released by the U.S. Energy Information Administration indicating a rise of 5.5 million barrels in inventories had a limited effect on yesterday's pricing. Factors such as fluctuations in Asian markets, financial reports of U.S. technology companies, and non-farm employment data are also impacting global market movements. Particularly, the tension between Iran and Israel contributes to the upward movement in oil prices.

Technically, WTI oil prices are managing to stay above the support levels of 70.50 – 71.00. In upward movements during the day, the resistance levels of 71.00, 71.50, and 72.00 can be monitored. The RSI indicator is at the 48 level, presenting a neutral outlook. There has been a 0.13% increase compared to the previous day. In the event of possible pullbacks, the support levels of 70.00 and 69.50 can be observed. If prices fall below 70.50, the downward trend may strengthen.