{"id":116058,"date":"2025-06-30T21:40:30","date_gmt":"2025-06-30T17:40:30","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=116058"},"modified":"2025-06-30T22:40:23","modified_gmt":"2025-06-30T18:40:23","slug":"will-opec-flood-sink-wti-below-65","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/will-opec-flood-sink-wti-below-65\/06\/30\/market-updates\/","title":{"rendered":"Will OPEC+ Flood Sink WTI Below $65?"},"content":{"rendered":" <br \/><br \/>WTI Stalls Amid Supply Shifts<br \/><br \/>On June 30, 2025, West Texas Intermediate (WTI) crude oil hovered below $65.00 per barrel, paring early gains. A brief spike followed news of Prax Group\u2019s insolvency in the UK, raising fears of reduced diesel and gasoline supply in Northwest Europe. However, attention quickly shifted to OPEC+ supply plans, with the group expected to greenlight a 411,000-barrel-per-day increase for August, pushing 2025\u2019s total hike to 1.8 million barrels. Can WTI hold its ground against rising supply?<br \/><br \/>Geopolitical Calm Eases Pressure<br \/><br \/>A recent Israel-Iran ceasefire has stripped away the geopolitical risk premium that once buoyed oil prices. This de-escalation, unlike 2019\u2019s Strait of Hormuz tensions, cools market fears, capping WTI\u2019s upside. For instance, a Texas refinery might see stable input costs, but global oversupply looms large.<br \/><br \/>Technical Signals Warn of Weakness<br \/><br \/>WTI found support at $64.18, near the 38.2% Fibonacci retracement, but struggles below the 100-day SMA at $65.45. The RSI at 46 signals fading bullish momentum. A drop below $63.73 could target $60.59, while a push above $67.08 eyes $68.29.<br \/><br \/>What Lies Ahead?<br \/><br \/>OPEC+\u2019s July 6 meeting will set the tone. If production rises unchecked, WTI may slide further. Conversely, tighter supply or renewed tensions could spark a rebound. Next week\u2019s data will be crucial.","protected":false},"excerpt":{"rendered":"<p>WTI Stalls Amid Supply ShiftsOn June 30, 2025, West Texas Intermediate (WTI) crude oil hovered below $65.00 per barrel, paring early gains. A brief spike followed news of Prax Group\u2019s insolvency in the UK, raising fears of reduced diesel and gasoline supply in Northwest Europe. However, attention quickly shifted to OPEC+ supply plans, with the &hellip;<\/p>\n","protected":false},"author":13,"featured_media":53340,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[],"class_list":["post-116058","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116058","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=116058"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116058\/revisions"}],"predecessor-version":[{"id":116061,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/116058\/revisions\/116061"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/53340"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=116058"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=116058"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=116058"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}