INSUBCONTINENT EXCLUSIVE:
US-China tariff truce.The pullback reflects growing skepticism about OPEC+ compliance with production cuts and concerns that shale drillers
28, after Washington and Beijing agreed to slash tariffs to 10% for 90 days.US imports from China now face 30% duties, while Chinese tariffs
on American goods dropped from 125%
Despite US-China Trade Breakthrough
(Photo Internet reproduction)Technical indicators signal turbulence: WTI faces immediate resistance at $62.54, with its 50-day EMA
MACD momentum readings suggest bullish exhaustion, while Bollinger Band volatility contraction hints at pending directional moves.US shale
firms struggle at current prices, needing $65-$70 per barrel to profitably drill
Diamondback Energy executives warned output could peak then decline without sustained price recovery.Refiners report stable margins despite
Global funds shifted $280 million into energy ETFs last week despite broader equity outflows, betting on demand rebounds.Traders now eye US
support at $59.45-a break below $55.45 would confirm bearish momentum
As Washington pushes Middle East peace talks that could unlock Iranian oil, traders brace for volatility ahead of June OPEC+ meetings.
