2024-07-08 22:15:00 ET
Summary
- Geopolitical events and weather disruptions are currently the main drivers of oil price fluctuations.
- OPEC+ production cuts have contributed to tighter oil markets, supporting prices. Can it continue?
- Technical analysis suggests key support and resistance levels to watch for future price movements.
By Zain Vawda
Oil prices have retreated sharply since printing a fresh high on Friday. Gaza ceasefire talks and Hurricane Beryl touching down in Texas, are the major talking points at the start of the week....
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For further details see:
Oil Prices Fall As Gaza Talks And Hurricane Beryl Take Center Stage (Technical Analysis)