🚨 Gold Update: Bulls Eye $3,500 Again? 📈
08 Aug 2025
28 Jul 2025
🛢️ WTI Holds Steady Above $65.00 After US-EU Trade Agreement
🔍 Market Outlook:
WTI crude oil (USOIL) continues to hold steady above the $65.00 psychological level in Monday’s Asian session, following a sharp rebound from last week's dip. This strength is being driven by renewed global trade optimism, particularly after the landmark US-EU trade deal.
🔔 Why WTI is Climbing:
The US and EU reached a breakthrough agreement over the weekend, implementing a 15% tariff on European goods—half the original threat—and unlocking $600 billion in EU investment into key US sectors. This signals a dramatic shift in geopolitical risk and fuels expectations for stronger oil demand.
✔️ Result? WTI bounced back confidently above $65.
Additionally, market optimism is building ahead of high-level talks between the US and China today. The world's top two oil consumers are rumored to be extending their tariff truce by 90 days, with the US also easing restrictions on tech exports.
✅ This creates a supportive environment for crude oil and risk assets alike.
⚠️ But Stay Alert — OPEC+ Still Matters
Despite bullish sentiment, traders should not overlook potential downside from OPEC+ output increases. The group plans to ramp up production by over 548,000 barrels/day in August, which may pressure prices unless global demand surges in tandem.
📈 What Traders Should Watch:
Final confirmation on US-China tariff extension
OPEC+ production moves and supply outlook
Weekly US inventory data
Global sentiment shifts due to earnings and inflation
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