5.7 Crude Oil Market Outlook by Shiyuan



Influenced by the easing of Middle East tensions, overnight oil prices sharply declined. WTI crude oil fell to around $95 per barrel, down over 7%, while Brent crude oil also declined to the $101 per barrel level. The previous geopolitical premium rapidly retreated, and the price center of gravity clearly shifted downward.
Short-term outlook: The current weak trend is clear, with resistance at $97-$98; if the rebound does not break through, cautiously watch for a decline, and pay attention to support at $93-$94.
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