WTIUSD

WTI crude oil prices continue their upward movement due to the tension between Israel and Lebanon. While the stock increase data announced by the U.S. Energy Information Administration has a limited impact on the markets, geopolitical tensions appear to have a more dominant effect on oil pricing. The performance of European and U.S. stock markets during the day could also be decisive for oil prices. Additionally, the positive atmosphere seen in U.S. stock markets following Alphabet's better-than-expected earnings forecasts could be considered an indicator that may increase oil demand.

Technically, as long as WTIUSD remains above the 70.50 – 71.00 support zone on the 4-hour chart, it can continue its upward movement. Currently, prices hovering near the 68.00 support level may target the 68.50 and 69.00 resistance levels in upward movements. The RSI indicator shows a neutral outlook at the 50 level, indicating no significant directional trend in prices. An increase of 0.34% compared to the previous day is observed, and technical indicators suggest that the upward potential might continue. However, in case of potential declines, the 67.00, 66.50, and 66.00 levels should be monitored as support.