Trading Insights

WTI

Oil Rises on Inventory Drop, Localised Pressure Persists


WTI surged after U.S. crude stockpiles fell nearly 6 million barrels, closing around $63.6. However, inventories at Cushing, Oklahoma, continue to build, hinting at supply pressure in the pipeline system. While headline declines support prices, localized stockpiles may limit the upside.
Key Levels: Support at $63.00 | Resistance at $64.11