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Crude Oil Price Outlook – Crude Oil Continues to See Volatile Moves
Published: Jun 17, 2025, 13:40 GMT+00:00
The crude oil market continues to see a lot of noisy action, as the war between Israel and Iran will be front and center, as the market will continue to worry about production. The oil situation is one that was bullish a bit before the war, but is even more interesting now.
WTI/CL Technical Analysis
The light sweet crude oil market has found itself to be pretty negative at the open, only to turn around and show signs of life again. With that being the case, I think you’ve got a scenario where we are just moving on the latest headlines coming out of Israel and Iran. But also keep in mind that the $72.50 level in this contract seems to be a level of importance.
So, with this, we’ll have to pay close attention to short-term pullbacks that offer buying opportunities. But we need to watch whether or not we can break that move to the upside and get any follow through after.
Brent Technical Analysis
Brent markets also have dropped at the open, only to turn around and show signs of life. With that, I think you have to look at the $75.50 level as a major short-term barrier. But I also recognize that we have broken through that a couple of times in both directions. So, I think it’s probably only a matter of time before we really start to rally. Ultimately, I like crude oil, I think it’s almost impossible to short the crude oil market right now with the way things are going in the Middle East. And of course, the fact that it had been basing and showing signs of life before that anyway. I like oil, I just think you need these pullbacks to get involved and find a bit of value.
For a look at all of today’s economic events, check out our economic calendar.
About the Author
Christopher Lewisauthor
Christopher Lewis is an experienced trader that specializes in technical analysis and markets prediction. Chris has over 20 years of experience across a wide variety of markets and assets - currencies, indices, and commodities.
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