Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (14th  - 18th July 2025)

Crude oil was supported by tightening market fundamentals despite an increase in OPEC+ supply. The IEA noted that summer refinery runs and strong backwardation pointed to a physically tight market, helping prices stay elevated. Meanwhile, EIA data indicated a ramp-up in refinery activity, reinforcing the demand-side strength.

WTI Crude oil spot has rebounded marginally from the dip of $66.42 towards end of past week, closed on a positive note at $68.66 / barrel.

Crude Oil rebounded by +3.01% to close around 5,889, after retesting the rising trend line support. Price is respecting the ascending structure formed since early May. The zone of 5,500 – 5,710 is acting as a solid support base, while resistance remains near 5,915 – 6,025, where it previously faced strong rejection. MACD shows a weakening bullish momentum as the histogram turns flat and signal line narrows. Volume has declined to 9.88K, reflecting caution or indecision post-spike. Price is sandwiched between the 20 & 50 EMA signaling consolidation phase within an uptrend.

Crude oil is holding a bullish structure with higher lows, but it needs a strong breakout above 6,025 for continuation. A breakdown below 5,700 could shift momentum back to the bears. Keep an eye on MACD crossover and volume revival for directional clarity.

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Prediction given by Technical Research Team - Choice.