Crude Oil Price Forecast for Next Week

Crude Oil Price Forecast for Next Week (25th - 29th May 2026)

WTI Crude Oil closed at $97 per barrel on Friday after touching as high as $109 during the week but still ended more than 6% decline weekly, as hopes of a possible US-Iran diplomatic agreement eased supply concerns. US Secretary of State Marco Rubio reported "slight progress" in mediated talks, while Tehran reviewed the latest US proposal delivered through Pakistan. Iran is also reportedly discussing a permanent Strait of Hormuz toll framework with Oman, though President Donald Trump rejected the proposal. Meanwhile, Iran's Supreme Leader insisted enriched uranium reserves remain inside the country, complicating negotiations. Supporting prices, the IEA warned global oil markets could enter the "red zone" by July-August due to tight Middle East supplies support prices.

Crude oil price has experienced massive profit-booking over the course of the week, posted weekly decline of -8.60%. After making a peak at 10,150 in June contract, Price has been fallen by past three-consecutive sessions towards weekend and closed at 9218. On Friday's momentum, price has breakthrough the support line of the Symmetric triangle formation, started trading below 20-DEMA level placed at 9498. Here, price has just closed above 50- DEMA level placed at 8969. This will be immediate support level and breakout of this level will accelerate downside momentum in Crude oil price towards its next support at 100-DEMA level placed at 8077. The momentum indicator, RSI levels has started trailing below 50 level on Daily chart. Also, we can observe a bearish crossover on Weekly MACD along side declining positive histograms, collectively suggest bearish biasness in Crude oil.

We are expecting Moderately Bearish trend in Crude oil price and traders should look for Sell- on-rise opportunity in upcoming week.

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Prediction given by Technical Research Team - Choice.