{"id":19375,"date":"2025-03-27T02:35:36","date_gmt":"2025-03-27T02:35:36","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=19375"},"modified":"2025-03-27T02:35:36","modified_gmt":"2025-03-27T02:35:36","slug":"cl-oil-holds-near-four-week-high-amid-supply-concerns","status":"publish","type":"post","link":"https:\/\/www.vtmarkets.com\/en-latam\/analysis\/cl-oil-holds-near-four-week-high-amid-supply-concerns\/","title":{"rendered":"CL-OIL Holds Near Four-Week High Amid Supply Concerns"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"559\" src=\"https:\/\/www.vtmarkets.com\/wp-content\/uploads\/2025\/02\/oil8-1024x559.png\" alt=\"\" class=\"wp-image-17019\" srcset=\"https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-1024x559.png 1024w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-300x164.png 300w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-768x419.png 768w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-500x273.png 500w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-400x218.png 400w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-350x191.png 350w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8-200x109.png 200w, https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2025\/02\/oil8.png 1408w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p><strong>Key Points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>WTI crude oil<\/strong> trades at <strong>$69.77<\/strong>, nearing a four-week high.<\/li>\n\n\n\n<li><strong>US crude stockpiles<\/strong> drop by <strong>3.34 million barrels<\/strong>, signaling tightening supply.<\/li>\n\n\n\n<li><strong>Sanctions<\/strong> and <strong>tariffs<\/strong> on producers like <strong>Iran<\/strong> and <strong>Venezuela<\/strong> remain a risk.<\/li>\n\n\n\n<li><strong>Reliance Industries<\/strong> halts Venezuelan oil imports due to tariffs.<\/li>\n\n\n\n<li><strong>US oil and gas activity<\/strong> increases slightly, but executive sentiment stays cautious.<\/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 Crude Oil Trades Near Four-Week High<\/h2>\n\n\n\n<p>WTI crude oil futures hovered around <strong>$69.77<\/strong> per barrel on Thursday, just below a four-week high. The price remained supported by concerns about <strong><a href=\"https:\/\/www.msn.com\/en-gb\/money\/other\/oil-near-three-week-high-on-supply-risks-us-stocks-drop\/ar-AA1BGx6C?ocid=BingNewsSerp\">tightening global supply<\/a><\/strong> and strong demand. <\/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\">Executives from the world&#39;s top commodity trading houses expect a well-supplied oil market this year, with concerns remaining over global demand growth. <a href=\"https:\/\/t.co\/wUr8OXkMW8\">https:\/\/t.co\/wUr8OXkMW8<\/a> <a href=\"https:\/\/t.co\/oknUSfwa4X\">pic.twitter.com\/oknUSfwa4X<\/a><\/p>&mdash; Reuters (@Reuters) <a href=\"https:\/\/twitter.com\/Reuters\/status\/1904677249103560737?ref_src=twsrc%5Etfw\">March 25, 2025<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p>The latest <strong><a href=\"https:\/\/ir.eia.gov\/wpsr\/wpsrsummary.pdf?_hsenc=p2ANqtz-_06msPGS_4DQjE1tg2Nh5-TilJ38XNjo4zojYCJ6LLYbeHvqNsRtPCoDXT_nLaSH6JSUpV\" title=\"\">US crude stockpile data<\/a><\/strong> showed a drop of <strong>3.34 million barrels<\/strong>, marking the largest weekly decrease since December. This was paired with <a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/us-crude-oil-inventories-post-unexpected-decline\/ar-AA1BHE9r?ocid=BingNewsSerp\">declining <strong>gasoline inventories<\/strong>,<\/a> further contributing to upward pressure on oil prices.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Geopolitical Risks Amplify Supply Concerns<\/h2>\n\n\n\n<p>Ongoing <strong>sanctions<\/strong> and <strong>tariffs<\/strong> imposed by the <strong>Trump administration<\/strong> continue to heighten concerns over supply disruptions, especially from <a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/oil-prices-jump-in-response-to-trump-s-venezuela-tariff-threats\/ar-AA1BBANZ?ocid=BingNewsSerp\"><strong>Iran<\/strong> and <strong>Venezuela<\/strong><\/a>. The <strong>US sanctions<\/strong> on Venezuelan oil and <strong>25% auto levies<\/strong> raise the risk of <strong>global oil supply disruptions<\/strong>. In response, <strong>Reliance Industries<\/strong>, operator of the world&#8217;s largest refinery complex, announced it would <a href=\"https:\/\/www.msn.com\/en-us\/money\/markets\/indias-reliance-to-stop-buying-venezuelan-oil-over-us-tariffs-sources-say\/ar-AA1BHh8s?ocid=BingNewsSerp\">halt <strong>Venezuelan oil imports<\/strong><\/a> due to these tariffs.<\/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 loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"450\" src=\"https:\/\/www.vtmarkets.com\/en-latam\/wp-content\/uploads\/sites\/23\/2026\/03\/27_3.1-1024x450.jpg\" alt=\"\" class=\"wp-image-19377\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center\"><em>Picture: CL-OIL consolidates below $70.19 after a brief rally from $68.51, as seen on the&nbsp;VT Markets app.<\/em><\/p>\n\n\n\n<p><strong>CL-OIL<\/strong> decreased by <strong>0.22<\/strong>%, closing at $<strong>69.77 <\/strong>after opening at $<strong>69.93<\/strong>. The session saw a slight increase, reaching a high of $<strong>70.19 <\/strong>before retracing and closing near the $<strong>69.77 <\/strong>level.<\/p>\n\n\n\n<p>The moving averages (MA 5,10,30) indicate consolidation, with short-term MAs crossing below the longer-term moving averages. This suggests weakening momentum and a potential reversal or continuation of the current range-bound price action. The MACD (12,26,9) is currently neutral, with the histogram showing a decrease in momentum, indicating indecision in the market.<\/p>\n\n\n\n<p>Key levels to monitor include $<strong>70.19 <\/strong>as immediate resistance and $<strong>68.51 <\/strong>as support. A break above resistance could signal the resumption of bullish momentum, while a drop below support might lead to further downside pressure, with the potential to test lower levels.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\">Outlook and Market Sentiment<\/h2>\n\n\n\n<p>With <strong>US oil and gas activity<\/strong> seeing slight growth in <strong>Q1<\/strong>, but with caution from energy executives, <strong>WTI crude<\/strong> continues to show resilience around the <strong>$69.70\u201369.80 range<\/strong>. Traders remain attentive to geopolitical risks and global economic conditions that may influence future price movements.<\/p>\n\n\n\n<p>WTI crude oil remains well-supported, and any further supply disruptions or tariff escalations could push prices higher. However, uncertainty around global demand and production targets may create volatility.<\/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","protected":false},"excerpt":{"rendered":"<p>WTI crude oil steady at $69.77, near four-week high, supported by falling US stockpiles and geopolitical risks from Venezuela and Iran. -vtmarkets.com<\/p>\n","protected":false},"author":2,"featured_media":17019,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[44],"tags":[48],"class_list":["post-19375","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\/19375","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=19375"}],"version-history":[{"count":0,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/posts\/19375\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/media\/17019"}],"wp:attachment":[{"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/media?parent=19375"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/categories?post=19375"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vtmarkets.com\/en-latam\/wp-json\/wp\/v2\/tags?post=19375"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}