US crude settles marginally lower as sellers maintain control below critical technical resistance near $97.46.
US crude oil futures settled at $94.81, down $0.27 or 0.28%, following a volatile session driven by geopolitical risks and shifting sentiment. The close below the $94.95 midpoint—a 50% retracement of the April 17 rally—keeps near-term pressure on buyers.
The session high reached $97.46, slightly above yesterday’s peak of $97.34, but failed to break resistance. This zone has acted as both support and resistance since late April, reinforcing its technical significance. The low of $89.85 held above yesterday’s $88.66, stabilizing the downside but leaving momentum with sellers.
Buyers must reclaim $94.95 and push above $97.46 to shift sentiment bullish, while failure to do so keeps the bias tilted toward further downside.