• WTI oil remains under pressure near the middle of USD 65 among gaunt holiday trade and no fresh catalysts.
• Traders remain careful before the OPEC+ meeting on July 5 and the date of July 9 for the potential US tariff action.
• OPEC+ is expected to approve the third in a row supply boost in August, although the actual performance remains below the target.

West Texas Intermediate (WTI) oil prices remain subdued on Friday, extending the losses from the previous day and floating near the middle of USD 65 among gaunt holiday trade, ongoing fears of demand and lack of fresh catalysts. Benchmark USA is a Wednesday trading, reflecting the adventure of traders.

Wider market moods He remains careful before two key risk events, organization of oil exporting countries (OPEC+) on July 5 and the upcoming date on July 9 for potential American tariffs.

Naftowa traders carefully observe the upcoming OPEC+decision, and the group will widely approve the third boost in a row by 411,000 barrels a day in August. While this movement aims to stabilize the market and satisfy summer demand, the actual production remains below the target when several members try to boost supply. Meanwhile, geopolitical tensions softened after the suspension of weapons between Iran-Israel and the renovated commitment of Iran in the Nuclear Treaty of Non-Couplement.

While the changes on the supply side remain in the spotlight, the sentiments are also burdened by faint demand signals. The last data revealed a surprise Raw supplies And more supple gasoline consumption despite the peak of the summer driving season. The Energy Information Administration (OIA) reported a 3.8 million barrels increased last week, while gasoline demand has dropped rapidly, which suggests weakening consumer activity. On the global front, changes in the growth forecasts of demand for oil by the International Energy Agency (IEA) additionally weakened sentiments. Together, these winds on the head side and uncertainty on the supply side maintain the raw wąbki Wąbki scope of consolidation.

From a technical point of view, WTI oil sales in the strict consolidation compartment, currently floating around 65.70 USD, slightly above the critical horizontal support zone near USD 64.00. This level was previously the main resistance from April to May and now turned into key support. A clear division below this zone can open the door to a deeper correction towards the lower Bollinger band, currently almost 60.45 USD.

. Bollinger teams They begin to narrow down slightly, reflecting the decrease in price variability. However, the price remains below the central line (average walking 20 days), currently around 67.70 USD, which acts as vigorous resistance. As long as WTI remains below this level, the prejudice remains gently bear in the brief period.

The relative force indicator (RSI) is currently nearly 49, which indicates a neutral tone and lack of conviction among traders. This is in line with the price -related price in recent sessions.