WTIUSD

The most critical data for crude oil prices this week will be the U.S. Crude Oil Stocks report, which will be released on May 14. If the stocks, which decreased by -2.032 million barrels last week, continue to decline this week, it could support oil prices. The U.S. Retail Sales data to be announced on May 15 (expectation: 0.0%) will be an important indicator in terms of economic activity and fuel demand. The expectation that the Philadelphia Fed Manufacturing Index will rise from -26.4 to -9.9 indicates a recovery in industrial activity. Technically, the 63.11 resistance area stands out above the pivot level of 61.99, while the support level of 60.54 is prominent below it.