WTIUSD

Crude oil rose by 2.3% to $58.40 per barrel following the release of the FOMC minutes. Despite the decision to gradually lift OPEC+ production cuts, oil prices reacted technically after recent sharp declines. The emphasis on inflation in the minutes provided support to commodity markets. The $56 level is being monitored as a significant support level while $60 serves as resistance. Ongoing trade tensions and concerns about global growth could increase volatility in oil prices.