🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
01 Aug 2025
🛢️ Crude Oil Slips Lower as European Session Begins
WTI crude oil prices declined in early Friday trading, continuing their sideways-to-bearish momentum. As the European session opened, WTI traded at $68.75 per barrel, slipping slightly from Thursday’s close of $68.87.
Meanwhile, Brent crude also edged lower to $71.60, down from the previous daily close of $71.68. The mild downside pressure in oil markets reflects continued uncertainty around global demand recovery, macroeconomic headwinds, and cautious sentiment ahead of major US data releases.
Key Drivers:
Weak opening follows Thursday's bearish close
Traders remain cautious ahead of US NFP and possible Fed policy shifts
Global risk sentiment and demand outlook weigh on price action
Outlook:
Crude oil remains vulnerable to further downside unless key support levels hold. Traders should watch for reactions around $68.50 (WTI) and $71.30 (Brent) as potential inflection zones.
