WTIUSD

Oil prices start the new week with limited losses, while rising global production expectations are putting pressure on pricing. Developments regarding US and OPEC+ production, as well as stock data to be announced this week and possible news flow regarding the Trump-Putin meeting will be monitored. Technically, as long as prices remain below the 57.00–57.50 resistance band, downside risks are prominent, and supports at 56.50 and 56.00 can be targeted. Conversely, hourly closings above the 57.50 level may raise the potential for a recovery towards the 58.00–58.50 range.