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31 Jul 2025

๐Ÿ›ข๏ธ Crude Oil (WTI) Price Forecast

WTI Crude Oil prices opened bearishly during Thursdayโ€™s early European session, trading at $69.45 per barrel, down from Wednesdayโ€™s close at $69.83. The decline reflects cautious sentiment as traders await further clarity on geopolitical tensions and upcoming U.S. economic data.

Brent crude is also retreating, currently priced at $72.24, down from $72.61 in the previous session.

๐Ÿ” Technical Outlook:
WTI faces immediate downside pressure below the $69.80โ€“70.00 resistance zone.

A breakdown below $69.00 could lead to further declines toward the $68.20 and $67.70 support levels.

The broader bias remains bearish unless prices reclaim and sustain above the $70.50 level.

๐Ÿ“‰ Market Sentiment:
Bearish short-term sentiment is driven by:

Weak demand outlook.

Uncertainty around U.S. sanctions threats on Russian oil exports.

Inventories showing mixed signals on product demand.

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