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Oil Prices Extend Losses Amid Recession Fears, Trade Tariffs, and OPEC+ Supply Uncertainty

Additionally, OPEC+ looking to ramp up supply adds another layer of pressure, as increased production could lead to an oversupply situation, further weighing on prices.

Key levels to watch for WTI Crude Oil:

Resistance: $66.50, $67.00, $67.50
Support: $65.50, $65.00, $64.50

A break below $65 could trigger further downside momentum, while stability above $66.50 might support a rebound. Market participants will also be watching U.S. inventory data and any updates on trade negotiations for further direction.