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WTI crude oil is up 4% on the day to $61.75 and is nearly up 8% on the week now, as prices are showing a resurgence after having hit its lowest since May on Monday. This comes after the US announced sanctions against Russia’s two largest oil companies and the EU also announcing sanctions against two independent Chinese oil refineries, which have heavily contributed in helping Russia to circumvent previous sanctions.That’s all helping to see oil produce a strong rebound this week, with WTI crude oil now trading up to its highest in two weeks. In the bigger picture, the 100 (red line) and 200-day (blue line) moving averages will remain key ceilings for the price momentum to shake off the bearish momentum so far in 2H 2025.
This article was written by Justin Low at investinglive.com.
💡 DMK Insight
WTI crude oil’s 4% jump to $61.75 signals a potential trend reversal worth watching. The recent sanctions against Russia’s major oil companies are a game changer, tightening supply and pushing prices higher. Traders should note that this week’s 8% increase suggests a bullish momentum shift, especially after hitting a low earlier in the week. If WTI can maintain above the $60 mark, it could attract more buying interest, potentially leading to a test of resistance around $65. Keep an eye on the broader energy sector, as rising oil prices often correlate with increased activity in related assets like energy stocks and ETFs. However, be cautious of volatility; geopolitical tensions can lead to sudden price swings. Watch for any further developments regarding sanctions or OPEC’s response, as these could impact market sentiment significantly. In the short term, monitor the $60 support level closely—if it holds, we might see a continuation of this bullish trend, but a drop below could signal a return to bearish sentiment.
📮 Takeaway
Watch for WTI crude oil to hold above $60; a sustained breakout could target $65, influenced by geopolitical developments.
