WTI crude oil futures fell to $74.80 per barrel on Thursday, following a 2.8% increase in the previous session. Investors are concerned about potential retaliatory strikes by Iran against Israel, in response to recent assassinations of Hamas and Hezbollah leaders. Despite these tensions, Iran's president hinted at possible diplomatic efforts to de-escalate the situation during a call with France.
Oil Edges Down on Thursday
Bullish Scenario: For a bullish trend, the price should stabilize above $75.35, targeting $77.94 and potentially $79.49.
Bearish Scenario: Stability below $75.35, confirmed by a 4-hour candle close, could lead to a drop towards $73.90 and $72.80.
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