🛢️ OIL MARKET SNAPSHOT — SHORT & CLEAR 🔥
Geopolitics is now driving oil prices. 🇺🇸 The U.S. has seized Venezuelan oil tankers and announced a full blockade, trapping 11M barrels and disrupting global supply routes. This has reintroduced supply risk into the market.
📊 Inventories are improving: • U.S. crude stocks are falling
• Cushing inventories dropped sharply
• Brent holds above $62, WTI stabilizes near $58
📐 Technically, WTI shows stabilization: • Double bottom near $56
• RSI recovering, bearish momentum fading
🌍 With tensions rising in the Americas, Middle East, and Black Sea, oil has shifted from supply-demand pricing to geopolitical pricing.
🔑 Key level to watch:
A break above $60 WTI could confirm a trend reversal and signal the end of the oil bear market.
