Crude Oil Extends Losses – Sentiment Weakens on Rising Supply Signals

WTI and Brent crude oil prices dropped again on Thursday, pressured by weak global demand signals, rising stockpiles, and the absence of any supportive signals from OPEC+. Traders are increasingly cautious ahead of next week's U.S. holiday and data releases.

---

📊 Market Overview – WTI & Brent Futures

---

🌍 Key Market Drivers

• EIA Data: Inventories Rise AgainU.S. crude stocks increased for the second consecutive week. The surprise build has dampened bullish momentum and raised concerns about slowing refinery activity.
• No OPEC+ Action YetWith no new policy signals ahead of the June meeting, traders are left guessing. Some believe voluntary output cuts will be extended, but no official confirmations have been made.
• Macro Concerns RemainChina’s economic activity remains below expectations, while European industrial demand is soft. The dollar's recent strength also pressures commodities priced in USD.
• Geopolitical Risk Premium FadesMiddle East tensions have eased for now, further limiting upside in risk premiums.

---

💼 Trading Strategy & Outlook

Crude oil remains in a downtrend. WTI is approaching technical support near $60.00, with further downside risk if momentum accelerates.

Recommendations:– Sell rallies toward $62.00–63.00– Protect short-term downside with put spreads– Monitor OPEC+ headlines and global mobility trends for signs of demand pickup

---

📈 3-Day Price Forecast (WTI Jul 25)

---

🔎 Note on Crude Oil

Unlike agricultural commodities, weather does not directly impact crude oil pricing. Instead, energy markets are more sensitive to:

• Inventories
• OPEC+ decisions
• Macroeconomic data
• Geopolitical events