Crude oil futures traded lower on Friday morning after the US eased some sanctions on the oil industry in Venezuela.

Crude oil needs Iran supply shock to break resistance, Reuters columnist says. Technical setup suggests market anticipates production disruption with breakout over $66.49.

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There are also concerns about what this could mean for regional oil supplies. Any escalation may pose a risk to Persian Gulf oil flows through the Strait of Hormuz, where around 20 million barrels a d

WTI crude oil rallies above $62.20 resistance, targeting previous tops at $64.75 and $66.49 with bullish momentum intact. Winter storm disrupts U.S. crude production, sending Gulf Coast exports to zero before rebounding as supply tightens.

Oil price moves aren't random, and sharp reversals and stalls are often driven by options positioning and mechanical hedging flows, not news or fundamentals.

Crude oil futures decline amid weak global cues and oversupply worries. February delivery slips on MCX. WTI and Brent Crude also fall.

Oil futures settled lower in a rangebound session, supported in part by the loss of some U.S. production to winter storm Fern and gains in diesel prices as heating fuel demand rose.

1459 ET – Oil futures reverse course late in the session to end down in low-volume Black Friday trade. The market remains focused on prospects for a Russia-Ukraine peace that could eventually see U.S. sanctions lifted, while the OPEC+ weekend meeting is ...