From Investing.com: 2025-05-13 00:34:00

Oil prices surged 4% after US-China tariff reductions, sparking market optimism. Saudi Aramco and Russia’s Central Bank express confidence in oil market stability. Technical analysis suggests resistance at 66.44 and 68.71 for Brent Crude. Client sentiment data shows a strong long position on WTI, signaling a possible price decline.

US-China trade developments lead to lower tariffs, easing tensions. President Trump hopes China will open markets to US businesses. Fear and Greed chart shows positive sentiment post-weekend meeting. Source: FinancialJuice

Technical analysis shows Brent Crude pushing higher with RSI crossing above 50. Resistance levels at 66.44 and 68.71. Support levels at 64.00 and 62.81. Brent Crude Oil Daily Chart – Source: TradingView

Client sentiment data reveals 75% of traders are long on WTI. Contrarian view suggests WTI prices could decline further. Source: MarketPulse.



Read more at Investing.com: Crude Oil: Trade Optimism Fuels Price Gains, What Comes Next?