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Crude Oil Price Outlook – Crude Oil Attempts to Put in a Floor
Published: Sep 8, 2025, 13:42 GMT+00:00
The crude oil market continues to attempt to find its overall range, as the markets have to deal with a lot of oversupply in this asset, and of course a potential slowdown globally.
WTI/CL Technical Analysis
The light sweet crude oil market has rallied a bit during the early hours here on Monday in a bid, and we’ll have to wait and see if this actually happens, to build a little bit of a double bottom. It’d be nice to get a little bit of structure going in this market, trying to determine where the next range is going to play out. And right now, it looks like $62 on the bottom and $66 on the top are good candidates.
If we can continue to rally, I think it will be difficult to get above $66 because there is so much supply out there at the moment, with the United States, OPEC and Russia all pumping oil, hand over fist. So maybe a little bit of a bump, but I wouldn’t get too excited about it.
Brent Technical Analysis
Brent continues to hold the $65 level after its bounce this morning, perhaps kicking off a bit of a double top, double bottom situation because we already played out the double top up here at about $69, and it looks like we’re going to try to play out a double bottom here at $65. So maybe that becomes your range. And quite frankly, as the two markets do tend to kind of move in the same direction, that’s not a huge surprise. I think that makes a lot of sense. Now we’ll just have to wait and see whether or not this holds, but clearly, we are trying to sort some kind of range or something out here. And again, same problem, just oversupply of crude oil around the world is going to keep a bit of a lid on this market as well.
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About the Author
Christopher Lewisauthor
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
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