Crude Oil Rebounds Slightly – Focus Shifts to U.S. Inventories and OPEC Outlook
Crude Oil Rebounds Slightly – Focus Shifts to U.S. Inventories and OPEC Outlook
After a week of mixed trading, crude oil prices stabilised on Tuesday as investors awaited fresh U.S. inventory data and new signals from OPEC regarding potential output adjustments.
Strategy:– Range trade between $61.00 and $63.50– Watch for the EIA stock report this afternoon (U.S. time)– Short-term upside is limited without stronger physical signals
After a week of mixed trading, crude oil prices stabilised on Tuesday as investors awaited fresh U.S. inventory data and new signals from OPEC regarding potential output adjustments.
📊 Market Situation & Price Development
West Texas Intermediate (WTI) June 2025 futures on the NYMEX closed at $62.56/barrel, up $0.13 (+0.21%) on the day. Other contracts through early 2026 followed the upward trend modestly.🌍 Key Market Drivers
- U.S. Inventory Report Due TodayAPI and EIA inventory reports will provide the next key data point. Last week saw a surprise build in crude stocks, which pressured prices. A drawdown could provide short-term support.
- OPEC+ Policy Remains in FocusTraders are monitoring signals for the upcoming June OPEC+ meeting. Talks of rolling over voluntary cuts continue, especially amid concerns about weak demand in Asia.
- Macroeconomic Sentiment MixedGlobal inflation concerns persist, but renewed optimism about global shipping stability and China’s recovery may lend support to oil.
- Geopolitical CalmReduced tensions in the Red Sea and de-escalation efforts in the Middle East have limited geopolitical risk premiums for now.
💼 Trading Strategy & Market Outlook
Crude remains in a technical holding pattern between $60 and $63. A breakout will likely require a surprise in inventory figures or an unexpected OPEC announcement.Strategy:– Range trade between $61.00 and $63.50– Watch for the EIA stock report this afternoon (U.S. time)– Short-term upside is limited without stronger physical signals