Brent oil is trying to settle back above the $69.50 level as some traders are ready to buy the dip.
A move above $70.00 will push Brent oil towards the nearest resistance level at $71.00 – $71.50.
WTI oil stabilizes after the recent sell-off. From a big picture point of view, OPEC+ plans to raise oil production continue to put pressure on oil markets.
If WTI oil stays below the $67.00 level, it will head towards the support level at $62.50 – $63.00.
