24/7 SUPPORT
Download App
Search
Popular Search
Published: 12 November 2025,03:25
Daily Market Analysis New
*Crude oil rebounds from two-week lows amid bargain buying ahead of OPEC and IEA reports.
*U.S. sanctions on Russian oil and potential end of the government shutdown support near-term oil prices.
*The market remains cautious amid ongoing concerns of global supply glut and rising inventories.
Market Summary:
Crude oil prices rebounded modestly, supported by bargain buying as traders positioned ahead of several key reports due later this week. OPEC is set to release its monthly oil market report on Wednesday, followed by the International Energy Agency’s (IEA) annual energy outlook, which could shape expectations for next year’s supply-demand balance.
Despite the recent uptick, crude oil remains under pressure for the year amid growing concerns of a potential supply glut. OPEC+ members, including Russia, have been gradually restoring production capacity, while non-OPEC producers have also ramped up output. The IEA previously projected a record surplus in 2026, while major banks such as Goldman Sachs have warned of rising global inventories — reinforcing the bearish structural backdrop.
Short-term optimism has emerged following fresh U.S. sanctions on Russian oil and speculation surrounding the potential end of the U.S. government shutdown, both of which have improved market sentiment. The sanctions have already begun disrupting Russian fuel exports, as Lukoil declared force majeure at an Iraqi oilfield — marking the most significant operational fallout yet from the restrictions. This tightening of refined product supply has helped offset crude’s oversupply narrative, offering near-term support to prices.
In parallel, Middle Eastern suppliers — Saudi Arabia, Iraq, and Kuwait — are expected to increase shipments to India in December, as Indian refiners seek alternatives to Russian barrels. This reconfiguration of trade flows could further stabilize regional demand dynamics, lending a mild bullish undertone to prices in the short term.
Technical Analysis
Crude oil prices are trading higher following a rebound from the key support level at $59.90. The MACD shows increasing bullish momentum, while the RSI at 59 remains above the midline, signaling continued upward bias.
If bullish momentum persists, the commodity could extend gains toward the next resistance levels at $62.80 and $65.20. However, a failure to sustain momentum may trigger a pullback toward $59.90, with deeper support seen near $57.85.
Resistance Levels: $62.80, $65.20
Support Levels: $59.90, $57.85
Trade forex, indices, metal, and more at industry-low spreads and lightning-fast execution.
Sign up for a PU Prime Live Account with our hassle-free process.
Effortlessly fund your account with a wide range of channels and accepted currencies.
Access hundreds of instruments under market-leading trading conditions.
Trading Platforms
Learn
About PU Prime
Corporate
Important Notice to Visitors
Our products and services are not offered or made available to residents of your jurisdiction. The information on this Website is not directed at persons in your jurisdiction and is not intended as an offer, solicitation, or promotion of our products or services to them.
By clicking “I Understand”, you acknowledge this notice and confirm that you are accessing this Website at your own initiative. Access to this Website does not mean that our products or services are available to you.
Important Notice
Please be advised that our products and services are currently unavailable to residents and entities located in the Philippines.
This restriction is a result of our firm commitment to adhering to applicable legal and regulatory requirements in all jurisdictions where we operate. In line with our internal compliance protocols and evolving global standards, we continuously assess and update access to our platform to ensure full regulatory alignment.
We appreciate your understanding and cooperation.
If you believe this restriction has been applied in error, please contact our support team for further assistance.
Dear Valued Client,
As part of PU Prime’s ongoing commitment to providing a stable and reliable trading environment, please be informed of the following weekly weekend scheduled optimisation activities:
We sincerely apologise for any inconvenience this may cause as we strive to provide you with better service. PU Prime is committed to providing you with the best trading experience and this Weekly Scheduled Optimisation Notice will enable us to ensure that you trade without any unexpected interruptions.
For other upgrades that may involve longer disruptions to your trading, we will announce them ahead of time in a separate announcement.
Important Notice:
Important Notice: Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely on your own initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on a reverse solicitation basis in accordance with the laws of your home jurisdiction.
Important Notice:
Please note the Website is intended for individuals residing in jurisdictions where accessing the Website is permitted by law.
Please note that PU Prime and its affiliated entities are neither established nor operating in your home jurisdiction.
By clicking the "Acknowledge" button, you confirm that you are entering this website solely based on your initiative and not as a result of any specific marketing outreach. You wish to obtain information from this website which is provided on reverse solicitation in accordance with the laws of your home jurisdiction.
Aviso importante:
Ten en cuenta que el sitio web está destinado a personas que residen en jurisdicciones donde el acceso al sitio web está permitido por la ley.
Ten en cuenta que PU Prime y sus entidades afiliadas no están establecidas ni operan en tu jurisdicción de origen.
Al hacer clic en el botón "Aceptar", confirmas que estás ingresando a este sitio web por tu propia iniciativa y no como resultado de ningún esfuerzo de marketing específico. Deseas obtener información de este sitio web que se proporciona mediante solicitud inversa de acuerdo con las leyes de tu jurisdicción de origen.
