WTI holds losses below $60.50 as Venezuela resumes exports, US stocks rise

💡 DMK Insight

WTI Oil’s retreat from $60.40 signals a critical shift as Venezuela’s resumed exports flood the market. After a four-day rally, this pullback could indicate a broader trend reversal, especially if prices fail to hold above the $60 mark. Traders should watch for support levels around $58.50, which could trigger further selling if breached. The resumption of Venezuelan exports adds supply pressure, potentially impacting not just oil prices but also related assets like energy stocks and ETFs. Keep an eye on how OPEC+ responds; their next moves could either stabilize or exacerbate this volatility. If you’re in long positions, consider tightening stops to mitigate risk as we navigate this new supply dynamic.