WTI crude oil futures settled $0.79 lower at $63.17. The day’s low was $63.06, while the high reached $64.34. <\/p>\n
The price is moving away from the 100-hour moving average of $64.82 and has fallen below a swing area low of $63.61, with the swing area’s high at $65.27. A rebound above these levels would signal a potential shift in control back to buyers. <\/p>\n
If the price does not recover, sellers maintain dominance with the next target near the May lows around $60. Further declines could focus on the April and May lows close to $55.15.<\/p>\n
Based on today’s price action on August 12th, 2025, we’ve seen WTI crude oil break below a key support area around $63.61. The price is now trending away from its 100-hour moving average, which suggests that bearish sentiment is taking hold for now. Any hope for a recovery would require the price to reclaim the $65.27 level, but that currently seems unlikely.<\/p>\n
This downward pressure is supported by recent fundamental news, as last week’s EIA report showed a surprise inventory build of 2.8 million barrels against expectations of a draw. At the same time, recent purchasing managers’ index (PMI) data from both Europe and Asia has indicated a slowdown in manufacturing, fueling concerns over future energy demand. U.S. shale production has also remained stubbornly high throughout the summer, adding to global supply.<\/p>\n
For traders using derivatives, this points toward establishing bearish positions in the coming weeks. We are looking at the lows from May 2025, near the $60 handle, as the next significant target. Buying put options with a $60 strike price or initiating bear call spreads could be viable strategies to profit from this expected decline.<\/p>\n
If the market’s weakness persists and breaks through the psychological $60 support, the next major downside target comes into focus from the April and May 2025 lows, near $55.15. This type of price decline is something we have seen before, particularly during the economic slowdown scare in late 2024 which saw oil drop nearly 15% in a single quarter. The current setup feels similar, driven by fundamentals rather than fleeting headlines.<\/p>\n
The primary risk to this short-term bearish view would be a sudden reversal back above the 100-hour moving average at $64.82. A sustained move above the $65.27 swing high would signal that buyers are regaining control. Therefore, any short positions should be monitored against these key technical levels.<\/p>\n
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