Potential U.S.–Iran nuclear deal: May lead to lifting of sanctions on Iranian oil exports, increasing global supply.
IEA demand outlook: Sees global demand growth slowing from 0.99M bpd in Q1 to 0.65M bpd for the rest of 2025.
Macroeconomic headwinds: Ongoing tariff tensions and slowing global growth are weighing on oil demand.
Technically, the price of oil moved down to test the 200-hour MA today at session lows. The price did extend below that MA but could not sustain momentum. The price is back below the 100 and 200-hour MAs. The higher 100 hour MA is at $62.12. The 200-hour MA is at $60.41. THose MAs will be barometers for more bullish or more bearish bias on a break higher or lower. .
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
Finally We wish PressBee provided you with enough information of ( Crude oil settles at $61.62 )
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