https://www.instagram.com/vanessaclarkipaiThis is your Daily Crude Oil Price Tracker with Vanessa Clark podcast.Welcome back to Daily Crude Oil Price Tracker. I'm Vanessa Clark, and today we're diving into what's happening in the oil markets as we close out the week. So grab your favorite beverage and let's talk crude.Right now, as of this evening, Brent crude is trading at 70 dollars and 92 cents per barrel, up slightly from yesterday. West Texas Intermediate, or WTI as we call it, is sitting at 65 dollars and 61 cents per barrel. Both benchmarks are showing modest gains today, but here's where things get interesting because the bigger story this week has been a lot of volatility driven by what's happening geopolitically and with inventory levels.Earlier this week, we actually saw oil prices take a hit when the U.S. crude inventory report came out showing a surprise 16 million barrel jump, the largest increase we've seen in three years. That caught a lot of traders off guard and sent prices lower. But here's the thing, oil has bounced back because of growing tensions in the Middle East, particularly around U.S. and Iran nuclear talks that are happening this week in Geneva. President Trump has indicated he's considering military action against Iran if negotiations don't progress, and that geopolitical risk premium is keeping a floor under prices.What's really fascinating from a market perspective is that we have two competing forces at play. On one hand, there's fundamental weakness in the market. The International Energy Agency is forecasting significant oversupply this year, with global oil production expected to grow much faster than demand. But on the other hand, geopolitical risks are supporting prices at around 70 dollars for Brent crude. OPEC Plus is set to meet this Sunday to discuss whether they'll increase production starting in April, and they're expected to approve a modest hike of 137 thousand barrels per day.For traders and investors paying attention to technical levels, WTI is consolidating in what analysts are calling a bullish flag formation above 64 dollars and 15 cents. If prices break above 67 dollars, we could see targets toward 69 dollars. But if we drop below that key support, we could test 62 dollars.The bottom line is that crude oil remains one of the best performing assets this year, up more than 14 percent so far, but the market is fundamentally fragile underneath all this geopolitical noise. The tension between structural oversupply and temporary price support from Middle East risks is defining the trade right now.That's what you need to know about crude oil today. Thanks so much for tuning in to Daily Crude Oil Price Tracker. Be sure to subscribe and join us tomorrow for the latest oil market insights. This is Vanessa Clark, and we'll see you next time.For more http://www.quietplease.aiCheck out Vanessa on Instagram https://www.instagram.com/vanessaclarkipaiFor some deals, check out https://amzn.to/4hSgB4rThis content was created in partnership and with the help of Artificial Intelligence AI

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