🛢️ Crude Oil Slips Despite Geopolitical Shocks
Price: $71.16 ▼ -0.18%
Oil has completely erased its overnight gains and is now trading in the red — even though some of Iran’s major oil & gas facilities are reported to be offline or destroyed. 🏭🔥
⚠️ Normally, such disruptions would spark a price rally...
But today, markets are reacting differently.
🔍 Possible reasons:
Demand fears due to weak global economic data
High inventory levels in the US and China
Traders may believe the Iran impact is already priced in
🧠 Bottom Line:
This disconnect between fundamentals and price action is a red flag for bullish oil traders. Market sentiment is shifting fast — stay alert.
📉 Watch key support around $70.30
📈 Resistance near $72.20