WTIUSD

Oil prices are trending downwards due to the ceasefire facilitated by the US between Israel and Hezbollah and the possibility of OPEC+ delaying its production increase plan at the meeting on December 1st. The American Petroleum Institute's announcement of a nearly 6 million barrel decline in inventories had a limiting effect on the declines during the Asian session. The trends in European and US stock markets may be significant for oil pricing.

WTIUSD is being monitored in an hourly time frame. The price is trading around 68.755, marking a 0.17% decline compared to the previous day. In downward movements, the levels of 68.5, 68, and 67.5 can be monitored as support, while upward movements may face resistance at 69.5, 70, and 70.5 levels. The RSI indicator is at 45, exhibiting a neutral market outlook. Closures above 69.5 may be necessary for an upward trend.