🛢️ WTI Crude Oil: The $60 Battleground and the Sanctions Showdown
The global oil market is back on a knife's edge. After a volatile reversal, WTI Crude Oil has magnetically returned to the psychologically critical $60 per barrel mark. This is more than a technical level; it’s a crucible where the undeniable force of global supply abundance clashes head-on with the immediate, unpredictable threat of geopolitical supply shock . For traders and investors, the coming week is a definitive test. The balance hangs entirely on the fate of US sanctions targeting Russian energy exports, set to take effect shortly. Will the geopolitical risk premium be enough to launch WTI higher, or will the structural glut pull the price back into the low $50s? 📉 Technical Analysis: The Cautious Climb The charts reflect a market that is deeply confused but attempting to establish a higher base after bouncing convincingly from the recent $55 lows. The $60 Pivot Point: The Decisive Line: Price action has solidified $60.00 as the near-term decision point . Holding abov...