The oil market has been subject to significant fluctuations, with central bank policies and technical indicators playing pivotal roles. OPEC’s recent reaffirmation of supply cuts has provided a floor for prices, with Brent crude hovering near the resistance level of $87.24. The U.S. crude oil is pressing on the support around $81 a barrel, as traders speculate on the market’s direction amid geopolitical shifts. The technical outlook is cautiously optimistic, with prices trading above key moving averages, yet the Relative Strength Index (RSI) suggests the market is nearing overbought conditions, signaling potential pullbacks.

From a technical perspective, Brent oil’s immediate resistance is at the mentioned $87.24, with a break above potentially leading to further gains. For WTI, the pivot to watch is $82.75, with support at the $81 level. The market’s sentiment is tempered by inventory levels and OPEC production, with any significant changes likely to drive the next major move in prices.