WTIUSD

Crude oil (WTI) is hovering around the pivot level of 58.798. The 0.3% contraction in the U.S. economy is seen as a factor that could decrease oil demand. Trump's statements about the early implementation of tariffs on China could affect global trade volume, putting pressure on oil prices. In a downward movement, support levels of 56.974 and 56.226 stand out. However, Trump's call for "investment in America" could create economic revival and increase oil demand in the medium term, in which case resistance levels of 59.546 and 61.370 could be targeted.