{"id":17181,"date":"2025-02-26T02:42:05","date_gmt":"2025-02-26T02:42:05","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=17181"},"modified":"2025-02-26T02:42:05","modified_gmt":"2025-02-26T02:42:05","slug":"cl-oil-slips-on-weak-demand-and-supply-uncertainty","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-ca\/analysis\/cl-oil-slips-on-weak-demand-and-supply-uncertainty\/","title":{"rendered":"CL-OIL Slips on Weak Demand and Supply Uncertainty"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/download-5-1-1024x559.png\" alt=\"\" class=\"wp-image-17186\" \/><\/figure>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>CL-OIL (WTI) fell 2.58%<\/strong>, closing at $<strong>69.07<\/strong>, after hitting a low of $<strong>68.67<\/strong>.<\/li>\n\n\n\n<li>China\u2019s slow recovery and U.S. economic concerns weigh on demand while Russia-Ukraine talks raise <strong>expectations of lifted sanctions<\/strong>, increasing supply risks.<\/li>\n\n\n\n<li>OPEC+ may delay output hikes, while U.S. sanctions on Iran provide some support.<\/li>\n\n\n\n<li>U.S. crude inventories <strong>unexpectedly dropped <\/strong>by 0.6M barrels, defying a 2.3M build forecast.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">CL-OIL Struggles Below $70 Amid Demand and Supply Risks<\/h2>\n\n\n\n<p><strong>CL-OIL (WTI) slid to $69.07 per barrel<\/strong>, extending its decline after touching a session low of <strong>$68.67<\/strong>. Concerns over <strong><a href=\"https:\/\/www.bing.com\/search?q=china+sluggish+recovery+2025&amp;qs=n&amp;form=QBRE&amp;sp=-1&amp;lq=0&amp;pq=china+sluggish+recovery+202&amp;sc=12-27&amp;sk=&amp;cvid=F7F592ABE9184AD09813A7153D59FC7F&amp;ghsh=0&amp;ghacc=0&amp;ghpl=\" title=\"\">China\u2019s sluggish recovery<\/a><\/strong> and <strong>U.S. economic uncertainty<\/strong>\u2013the recent <a href=\"https:\/\/www.aa.com.tr\/en\/americas\/trump-risks-wto-violations-by-escalating-eu-trade-tensions-warns-expert\/3492976\" title=\"\">Trump-sparked trade tensions<\/a>, <a href=\"https:\/\/apnews.com\/article\/inflation-economy-jobs-federal-reserve-2d6a4d1c31b37fa2d060c466472a8ca1\" title=\"\">inflationary pressures<\/a>, and declining consumer confidence to name a few\u2013continue to weigh on demand, keeping oil prices under pressure.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Ukraine&#39;s President Volodymyr Zelenskiy said he was willing to give up his position if it meant peace in Ukraine, adding that he could exchange his departure for his country&#39;s entry into the NATO military alliance <a href=\"https:\/\/t.co\/WGzvNy8Gja\">https:\/\/t.co\/WGzvNy8Gja<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1893941967089762326?ref_src=twsrc%5Etfw\">February 24, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Market sentiment remains cautious as <strong>Russia-Ukraine peace talks progress<\/strong>, raising expectations of <strong>sanctions on Russian oil being lifted<\/strong>, which could boost global supply. However, losses were limited by <strong><a href=\"https:\/\/www.independent.co.uk\/news\/world\/americas\/us-politics\/iran-oil-sales-us-treasury-sanctions-trump-b2704039.html#:~:text=The%20US%20imposed%20sanctions%20on%20Monday%20targeting%20dozens,groups%20that%20attack%20the%20US%20and%20its%20allies.\" title=\"\">U.S. sanctions on Iranian crude<\/a><\/strong> and speculation that <strong>OPEC+ may delay planned output increases<\/strong>, providing temporary support.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Outlook: CL-OIL at Key Support<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"449\" src=\"https:\/\/www.vtmarkets.com\/en-ca\/wp-content\/uploads\/sites\/13\/2026\/03\/1-1-1024x449.jpg\" alt=\"\" class=\"wp-image-17185\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Crude oil slides to $69.070, testing support as bearish momentum dominates, as seen on the\u00a0<a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p><strong>CL-OIL (Crude oil\/WTI)<\/strong> dropped <strong>2.58%<\/strong>, closing at <strong>$69.070<\/strong> after opening at <strong>$70.902<\/strong>. The session saw a sharp decline, hitting a low of <strong>$69.030<\/strong>, while resistance was tested near <strong>$71.24<\/strong> before the reversal.<\/p>\n\n\n\n<p>The moving averages (MA 5,10,30) indicate a strong bearish trend, with short-term MAs diverging below the longer-term trend. The MACD (12,26,9) remains in negative territory but shows signs of potential recovery as the histogram turns green.<\/p>\n\n\n\n<p>Key levels to watch include <strong>$68.67<\/strong> as immediate support, while resistance at <strong>$71.295<\/strong> could limit upside movement. A sustained break above resistance may shift momentum, while failure to hold support could extend losses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">U.S. Crude Inventory Decline Offers Some Support<\/h2>\n\n\n\n<p>The <strong><a href=\"https:\/\/markets.businessinsider.com\/news\/stocks\/api-crude-inventories-for-week-of-february-21-1034407360\" title=\"\">API reported a 0.6M barrel draw<\/a><\/strong> in U.S. crude inventories, defying forecasts of a <strong>2.3M barrel build<\/strong>. The unexpected decline suggests <strong>resilient demand<\/strong>, helping prevent a steeper selloff in oil markets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Market Outlook<\/h2>\n\n\n\n<p>CL-OIL remains vulnerable to <strong>demand uncertainty and shifting supply dynamics<\/strong>. Traders will closely watch <strong>OPEC+ decisions, U.S. economic data, and developments in Russia-Ukraine peace talks<\/strong>, which could significantly impact short-term price action.<\/p>\n\n\n\n<p><strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/\">Create your live VT Markets account<\/a><\/strong><strong>&nbsp;and&nbsp;<\/strong><strong><a href=\"https:\/\/myaccount.vtmarkets.com\/login\">start trading<\/a><\/strong><strong>&nbsp;now.<\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vtmarkets.com\/#facebook\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/www.vtmarkets.com\/#facebook\" rel=\"noreferrer noopener\" target=\"_blank\"><\/a><\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>CL-OIL slips to $69.07 as weak demand and Russia-Ukraine talks raise supply risks; traders eye OPEC+ moves and U.S. data. &#8211; vtmarkets.com<\/p>\n","protected":false},"author":66,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[31],"tags":[66],"class_list":["post-17181","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-oil"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/17181","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/comments?post=17181"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/posts\/17181\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/media?parent=17181"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/categories?post=17181"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-ca\/wp-json\/wp\/v2\/tags?post=17181"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}