Oil Market Update – 28 March 2025Oil Market Update – 28 March 2025
Oil prices continue to move within a volatile range, influenced by competing fundamental factors. On one hand, geopolitical developments — such as potential sanctions on oil-producing nations and newly announced U.S. tariffs on Venezuelan oil — have contributed to recent upward pressure. On the other hand, market participants remain cautious due to broader macroeconomic uncertainties.
Key Levels Observed by Market Participants:
• The $71.50 level has previously acted as a point of interest; some analysts are watching to see how price behaves around this area.
• In the event of downward movement, the $66.00–$66.50 range has historically attracted attention during past price consolidations.
• Should the price establish itself above $72.00 with supportive developments, attention may turn toward the $75.00 region, which has been highlighted in prior analyses.
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