Crude Oil Shrugs Off the Selloff as Barrels Vanish

WTI crude oil stays supported as falling US inventories and Strait of Hormuz supply risk hold a premium during peak summer demand. Razan Hilal, FOREX.com Market Analyst, breaks down the technical levels that separate an escalation scenario from a de-escalation across the crude oil chart. US crude inventories are drawing down during peak summer demand while disruptions tied to the Strait of Hormuz keep Middle East supply risk elevated. The walkthrough maps the key levels for WTI crude oil and Brent crude, then looks at how the upcoming US non-farm payrolls report could drive oil market volatility. 0:00 Crude Oil Defies the Selloff 0:27 Hormuz Risk Tightens the Screw 0:54 WTI Rebounds Off Firm Support 1:28 Bulls Eye the Next Upside Zone 2:47 A Multi-Year Line in the Sand 3:53 Payrolls Loom as the Next Test Discover Actionable Insights with the latest Market Outlook Reports: https://intel.stonex.com/offer?language=en&campaignId=A908C315-DC62-4F35-AC16-870BB71E84D1&utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_razan_hilal&utm_content=share Like and subscribe for more financial market insights. #CrudeOil #StoneX #RazanHilal