WTI loses momentum above $76.00 as OPEC+ delays meeting

WTI prices lose ground near $76.20 amid concern about global crude oil supplies.
OPEC+ unexpectedly delayed a meeting on production cuts from November 25–26 to November 30.
US S&P Global PMI data on Friday will be in the spotlight.

Lallalit Srijandorn FXStreet

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around $77.20 so far on Thursday. WTI prices extended their downside as the Organization of Petroleum Exporting Countries and allies (OPEC+) unexpectedly delayed a meeting on production cuts.

Early Thursday, the OPEC Secretariat stated that the OPEC+ meeting on Sunday could be delayed from November 25–26 to November 30, which would drag oil prices lower and raise concerns about global crude oil supplies.

Saudi Arabia, the world's largest oil exporter, is planning to extend oil production cuts by 1 million barrels a day through next year, while OPEC+ members consider additional cuts in response to declining prices. However, the forthcoming meeting was confronted with a difficult market environment, caused by rising tensions over the Israel-Hamas conflict and a slower-than-expected Chinese demand recovery.

Meanwhile, the recovery of the US Dollar (USD) might cap the upside of the oil prices as it makes dollar-denominated oil more expensive to buy the same amount of oil.

The US market is closed for the Thanksgiving Day holiday on Thursday. The attention will shift to the US S&P Global PMI data, due on Friday. The Manufacturing PMI figure is expected to grow to 49.8 while the Services PMI is estimated to rise to 50.4. These events could significantly impact the USD-denominated WTI price. Oil traders will take cues from the data and find trading opportunities around WTI prices.

WTI US OIL

Overview
Today last price	76.22
Today Daily Change	-0.61
Today Daily Change %	-0.79
Today daily open	76.83

Trends
Daily SMA20	78.81
Daily SMA50	83.89
Daily SMA100	82.15
Daily SMA200	77.95

Levels
Previous Daily High	78
Previous Daily Low	73.85
Previous Weekly High	79.66
Previous Weekly Low	72.39
Previous Monthly High	90.88
Previous Monthly Low	80.52
Daily Fibonacci 38.2%	75.43
Daily Fibonacci 61.8%	76.41
Daily Pivot Point S1	74.45
Daily Pivot Point S2	72.07
Daily Pivot Point S3	70.29
Daily Pivot Point R1	78.6
Daily Pivot Point R2	80.38
Daily Pivot Point R3	82.76

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

EUR/USD stays weak near 1.1650 ahead of critical US events

EUR/USD stays in the red near 1.1650 in the European trading hours on Friday. The pair remains undermined by broad US Dollar strength and a cautious market mood. Traders keenly await the US Nonfarm Payrolls data and Supreme Court's ruling on Trump's tariff powers for further direction.

GBP/USD holds lower ground below 1.3450, with eyes on US data

GBP/USD remains subdued for the fourth consecutive day, while trading below 1.3450 in the European session on Friday. Markets remain in a wait-and-see mode before the key US event risks and prefer to hold the US Dollar, which weighs negatively on the pair. The US monthly jobs data and the Supreme Court decision on tariffs are awaited.

Gold flat lines around $4,475; looks to US NFP report for fresh impetus

Gold reverses a modest intraday dip to the $4,453 area, and trades near the top end of its daily range heading into the European session. The upside, however, seems limited as traders might opt to wait for the US Nonfarm Payrolls report later today. The crucial employment details will be looked upon for more cues about the Federal Reserve's rate-cut path.

Nonfarm Payrolls expected to show US labor market remained weak in December

The United States Bureau of Labor Statistics will release the Nonfarm Payrolls data for December on Friday at 13:30 GMT. Economists expect Nonfarm Payrolls to rise by 60,000 in December following the 64,000 increase recorded in November.

2026 economic outlook: Clear skies but don’t unfasten your seatbelts yet

Most years fade into the background as soon as a new one starts. Not 2025: a year of epochal shifts, in which the macroeconomy was the dog that did not bark. What to expect in 2026? The shocks of 2025 will not be undone, but neither will they be repeated.

Pepe Price Forecast: PEPE risks 100-day EMA fallout as bullish interest fades

Pepe is under extreme selling pressure, trading in the red for the fifth consecutive day, down 1% at press time on Friday. Pepe’s decline following a 72% hike last week suggests a likely profit-booking phase, while on-chain data indicates declining network activity.