{"id":18353,"date":"2025-03-14T02:39:03","date_gmt":"2025-03-14T02:39:03","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=18353"},"modified":"2025-03-14T02:39:03","modified_gmt":"2025-03-14T02:39:03","slug":"wti-crude-near-66-amid-us-sanctions-demand-concerns","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-latam\/analysis\/wti-crude-near-66-amid-us-sanctions-demand-concerns\/","title":{"rendered":"WTI Crude Near $66 Amid US Sanctions, Demand Concerns"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2026\/03\/1_download-4-1-1024x559.png\" alt=\"\" class=\"wp-image-18354\" \/><\/figure>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>CL-OIL (WTI crude) trades around $<strong>66.60 <\/strong>after briefly rising above $<strong>67<\/strong>.<\/li>\n\n\n\n<li>US imposes fresh sanctions targeting Iranian oil exports.<\/li>\n\n\n\n<li>IEA warns of increasing supply surplus and weaker demand outlook.<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity is-style-dots\" \/>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">WTI Supported by Fresh US Sanctions<\/h2>\n\n\n\n<p>CL-OIL (WTI crude oil) futures edged up slightly to around $<strong>66.60<\/strong> per barrel on Friday, recovering marginally after dropping more than <strong>1<\/strong>% previously. <\/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\">The Trump administration is imposing sanctions on Iran\u2019s oil minister, as well as targeting more companies and vessels linked to the \u201cshadow fleet\u201d that Tehran uses to circumvent sanctions <a href=\"https:\/\/t.co\/IfIqDCk2KJ\">https:\/\/t.co\/IfIqDCk2KJ<\/a><\/p>&mdash; Bloomberg (@business) <a href=\"https:\/\/twitter.com\/business\/status\/1900196796611035163?ref_src=twsrc%5Etfw\">March 13, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>Prices received some support following <strong>new US sanctions against Iran<\/strong>, targeting its oil minister, Mohsen Paknejad <strong>and <a href=\"https:\/\/www.straitstimes.com\/world\/middle-east\/us-imposes-sanctions-on-iranian-oil-minister-shadow-fleet\">Hong Kong-flagged vessels<\/a><\/strong> reportedly aiding Iranian crude exports. This geopolitical tension offered temporary support, preventing prices from extending further declines.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Technical Analysis<\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/03\/1-24.3_1-1024x446.jpg\" alt=\"\" class=\"wp-image-18355\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: Crude oil struggles near 66.60 as bearish pressure persists, with key resistance at 67.00, as seen on the\u00a0<a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WAhttps:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/em><\/p>\n\n\n\n<p>CL-OIL closed at <strong>66.600<\/strong>, slightly higher than its open at <strong>66.492<\/strong>, after reaching a high of <strong>66.610<\/strong> and dipping to <strong>66.375<\/strong>. Despite a <strong>0.16%<\/strong> upward trend, the price action suggests uncertainty, with resistance near <strong>67.925<\/strong> and support holding at <strong>66.355<\/strong>.<\/p>\n\n\n\n<p>The <strong>moving averages (MA 5,10,30)<\/strong> indicate a weak recovery, as short-term MAs remain below the long-term trend. Meanwhile, the <strong>MACD (12,26,9)<\/strong> remains in bearish territory, though the histogram is stabilizing, suggesting a potential shift in sentiment.<\/p>\n\n\n\n<p>Oil markets remain pressured\u2014a breakout above <strong>67.00<\/strong> could drive bullish momentum, while a decline below <strong>66.35<\/strong> may reinforce selling pressure.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Demand Outlook Pressured by Economic Concerns<\/h2>\n\n\n\n<p>Despite the modest recovery, market confidence remains fragile due to growing macroeconomic worries. The International Energy Agency (IEA) recently <a href=\"https:\/\/finance.yahoo.com\/news\/oil-holds-hefty-gain-easing-233348638.html\"><strong>cautioned about a widening oil surplus<\/strong><\/a>, exacerbated by trade tensions and <strong><a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2025-03-13\/trade-war-threatens-oil-demand-as-opec-boosts-supply-iea-says\">rising production<\/a><\/strong> from OPEC+ countries. <\/p>\n\n\n\n<p>According to the IEA, global oil supply will surpass demand by about 600,000 barrels per day in 2024, primarily due to strong US output growth. Demand is expected to rise by just 1.03 million barrels per day, revised down by 70,000 barrels from previous estimates.<\/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\">Record OPEC+ fuel exports blunt group&#39;s crude supply cut <a href=\"https:\/\/t.co\/m3BT78YtFM\">https:\/\/t.co\/m3BT78YtFM<\/a> <a href=\"https:\/\/t.co\/tyuw8gkjHh\">pic.twitter.com\/tyuw8gkjHh<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1900226633883099220?ref_src=twsrc%5Etfw\">March 13, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>This oversupply scenario may weigh on prices, leading CL-OIL to potentially extend losses unless demand conditions improve.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Market Outlook<\/h2>\n\n\n\n<p>Market participants are advised to closely watch the ongoing developments concerning Iran and US sanctions, which could prompt short-term price movements. <\/p>\n\n\n\n<p>Nevertheless, the broader sentiment remains under pressure due to the prevailing global demand concerns flagged by the IEA. Traders should remain cautious, keeping an eye on key support and resistance levels.<\/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><\/p>\n","protected":false},"excerpt":{"rendered":"<p>WTI crude steadies near $66.60 as new US sanctions on Iranian oil offer support, but IEA demand concerns may limit further upside. -vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":18354,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[44],"tags":[48],"class_list":["post-18353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-analysis","tag-oil"],"acf":{"acf_article_selection_author":null},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts\/18353","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/comments?post=18353"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts\/18353\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/media\/18354"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/media?parent=18353"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/categories?post=18353"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/tags?post=18353"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}