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Crude Oil Price Outlook – Crude Rallies After Trump Comments
Published: Jul 30, 2025, 14:40 GMT+00:00
The crude oil market continues to see a lot of upward pressures, as the markets are reacting to Trump threatening even more sanctions on Russia, and tariffs on India, as they are buying their oil from Russia. Supply suddenly became an issue in the minds of traders.
WTI/CL Technical Analysis
The light sweet crude oil market is threatening the $70 level, an area that of course is a large, round, psychologically significant figure and an area that we’ve already seen action at previously. We are above the 200 day EMA and that of course will attract a certain amount of attention in and of itself. So, if we do continue to see upward momentum, I anticipate that you’ve got a situation where traders are more willing than not to get involved and start buying on the break to the upside.
If we pull back, then I think you’ve got a situation where traders are going to look at this through the prism of pulling back to the 200-day EMA and then the 50-day EMA. With the FOMC during the session, it could very well throw a lot of volatility in this market.
Brent Technical Analysis
The Brent market also looks as if it is trying to do everything it can to break to the upside, especially with President Trump in America talking about sanctioning Russia, which of course has people somewhat concerned about the supply of oil. It’s probably a short-term catalyst, but quite frankly, it wouldn’t surprise me at all to see more of the same volatility that we had seen recently. I still think that the bottom of the range that we had been in previously holds as support. In the short term, I do think this remains a very positive market. He says he’s not worried about the market, so the president may very well continue to pressure Russia.
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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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