Crude Oil Price News and Forecast: JP Morgan revised WTI price forecast for 2020

Yohay Elam FXStreet

WTI renews multi-month highs above $61 after EIA data shows decline in US oil stocks

Crude oil prices rose for the fifth straight day on Wednesday and the barrel of West Texas Intermediate reached its highest level in three months at $61.17. As of writing, the WTI was up 1% on the day at $61.10.

WTI Oil Outlook: oil price eases but key supports still intact; crude inventories report eyed for fresh signals

US Crude Oil

WTI oil price eased from new three-month high at $60.93 on Wednesday, after Tuesday's API report showed unexpected rise in crude stockpiles (4.7 million barrels vs last week's build of 1.4 million barells).

WTI

Overview
Today last price	60.92
Today Daily Change	0.38
Today Daily Change %	0.63
Today daily open	60.54

Trends
Daily SMA20	58.36
Daily SMA50	56.67
Daily SMA100	56.11
Daily SMA200	57.77

Levels
Previous Daily High	61.05
Previous Daily Low	60.04
Previous Weekly High	60.46
Previous Weekly Low	58.11
Previous Monthly High	58.76
Previous Monthly Low	54.12
Daily Fibonacci 38.2%	60.66
Daily Fibonacci 61.8%	60.43
Daily Pivot Point S1	60.04
Daily Pivot Point S2	59.53
Daily Pivot Point S3	59.03
Daily Pivot Point R1	61.05
Daily Pivot Point R2	61.55
Daily Pivot Point R3	62.06

Author

Yohay Elam

FXStreet

Yohay is in Forex since 2008 when he founded Forex Crunch, a blog crafted in his free time that turned into a fully-fledged currency website later sold to Finixio.

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

Editor's Picks

EUR/USD eyes 1.1800 barrier near two-month highs

EUR/USD extends its gains for the second successive session, trading around 1.1780 during the Asian hours on Tuesday. On the daily chart, technical analysis indicates a persistent bullish bias, as the pair moves upward within the ascending channel pattern. Additionally, the 14-day Relative Strength Index at 68.89 sits near overbought, signaling strong demand. RSI remains elevated, which could cap gains if overbought conditions emerge.

GBP/USD knocks ten-week highs ahead of holiday slowdown

GBP/USD found room on the high side on Monday, kicking off a holiday-shortened trading week with a fresh spat of Greenback weakness, bolstering the Pound Sterling into its highest bids in ten weeks. Pound traders are largely brushing off the latest interest rate cut from the Bank of England as the UK’s central bank policy strategy leaves the water murky for rate-cut watchers.

Gold bulls seem unstoppable amid supportive fundamental backdrop

Gold is seen building on the previous day's strong rally of over 2% and continues scaling new all-time highs for the second consecutive day on Tuesday. The commodity climbs closer to the $4,500 psychological mark during the Asian session and remains well supported by a combination of factors.

Uniswap holds above $6 as traders eye UNIfication vote outcome

Uniswap price holds above $6 at the time of writing on Tuesday after closing above a key resistance zone in the previous week. Traders are focusing on the highly anticipated UNIfication proposal, which is set to conclude on Thursday, and could become a key near-term catalyst. On the technical side, momentum indicators are flashing bullish signals, hinting at an upside rally.

Ten questions that matter going into 2026

2026 may be less about a neat “base case” and more about a regime shift—the market can reprice what matters most (growth, inflation, fiscal, geopolitics, concentration). The biggest trap is false comfort: the same trades can look defensive… right up until they become crowded.

XRP steadies above $1.90 support as fund inflows and retail demand rise

Ripple (XRP) is stable above support at $1.90 at the time of writing on Monday, after several attempts to break above the $2.00 hurdle failed to materialize last week. Meanwhile, institutional interest in the cross-border remittance token has remained steady.