WTIUSD

Oil futures started the week on an uptrend. India’s announcement that it would not import from Russia’s state-run Sovcomflot PJSC refinery due to concerns about sanctions was closely followed. For the past few days, we have been discussing the continuation of OPEC+ cuts, Ukraine’s drone attacks on Russia, and the Middle East agenda. The course of European and US stock markets can be followed during the day. As long as pricing remains at and above the 80.00 – 80.50 support level in the upcoming period, an upward trend may be at the forefront. In possible increases, the 81.50 and 82.00 levels may be targeted. In possible decreases, as long as the 80.00 – 80.50 support level remains current, new uptrend potential may occur. Therefore, it may be necessary to see the course below 80.00 and 4-hour closings for the continuation of the downtrend. In this case, the 79.50 and 79.00 levels may be on the agenda. Support: 80.50 – 80.00 Resistance: 81.50 – 82.00