Crude oil futures settle at $63.15 ...Middle East

The price has generally remained below the 50% retracement level of the trading range from the 2020 low, which stands at $64.71. For the bullish bias to gain traction, a sustained move above this midpoint is essential. On April 23, the price briefly climbed above this level, reaching a high of $64.83, before reversing lower—highlighting the importance of this technical barrier.

Fundamentally, the market is drawing support from the growing view that recession fears may have been overstated. Meanwhile, the latest U.S. crude oil inventory report showed a surprise build of 3.454 million barrels, compared to expectations for a draw of 1.078 million. Gasoline inventories, however, fell by 1.022 million barrels, larger than the expected 561,000-barrel decline—a sign of continued strong demand.

This article was written by Greg Michalowski at www.forexlive.com.

Hence then, the article about crude oil futures settle at 63 15 was published today ( Wednesday 14/05/2025 - 10:01 PM ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

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