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Oil News & Analysis

NEWS

WTI are set to fall about 6% this week, their biggest weekly decline since Sept. 2, after OPEC and the International Energy Agency cut their forecasts for global oil demand in 2024 and 2025 and concerns eased about a potential retaliatory attack by Israel on Iran that could disrupt Tehran's oil exports.

LEVEL’S

Current Price: 70.40

Bearish Scenario: If CRUDE Falls Below $70

Potential Support Levels:

* $69.50

* $69

•$68.50

Bullish Scenario: If CRUDE Sustains Above $71

Potential Targets:

* $71.50

* $72.00

* $72.50