WTI remains above $77.50 due to improved risk appetite

WTI Oil price attempts to extend its gains due to a recovery in overall market risk sentiment.
University of Michigan's 5-year Consumer Inflation Expectations for May eased slightly, bolstering expectations regarding the Fed’s rate cuts.
Iran will increase its Oil output from 3.6 million to 4 million barrels per day.

Akhtar Faruqui FXStreet

West Texas Intermediate (WTI) crude Oil price inches higher due to a recovery in overall market risk appetite, likely driven by investors' anticipation of a rate cut from the Federal Reserve (Fed) in September. WTI price trades around $77.70 per barrel during the Asian session on Monday.

On Friday, the University of Michigan's 5-year Consumer Inflation Expectations for May eased slightly to 3.0%, down from the forecasted 3.1%. This decline in inflation expectations is bolstering investor sentiment regarding potential rate cuts by the Fed.

However, Fed officials tempered expectations for rate cuts last week, issuing cautionary statements that the central bank still requires more evidence that inflation will eventually decline to its target of 2% annual price growth. Prolonged elevated interest rates are negatively impacting the US economic outlook and reducing Oil demand.

Reuters reported on Sunday, citing Iran’s Tasnim news agency, that an economic council led by Iran's interim president Mohammad Mokhber has approved a plan to increase the country's Oil output from 3.6 million barrels per day (bpd) to 4 million bpd.

Additionally, Saudi Arabia is preparing for a multi-billion-dollar share sale in energy giant Aramco, aiming to raise around $10 billion as early as June. This would be one of the region's largest stock deals, with shares listed in Riyadh in a fully marketed offering rather than an accelerated sale over a few days.

WTI US OIL

Overview
Today last price	77.74
Today Daily Change	0.07
Today Daily Change %	0.09
Today daily open	77.67

Trends
Daily SMA20	78.72
Daily SMA50	81.47
Daily SMA100	78.73
Daily SMA200	79.58

Levels
Previous Daily High	77.89
Previous Daily Low	76.04
Previous Weekly High	80.06
Previous Weekly Low	76.04
Previous Monthly High	87.12
Previous Monthly Low	80.62
Daily Fibonacci 38.2%	77.18
Daily Fibonacci 61.8%	76.75
Daily Pivot Point S1	76.51
Daily Pivot Point S2	75.34
Daily Pivot Point S3	74.65
Daily Pivot Point R1	78.37
Daily Pivot Point R2	79.06
Daily Pivot Point R3	80.23

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

AUD/USD consolidates above 0.7000; remains close to monthly top

AUD/USD holds steady above 0.7000 during the Asian session on Friday, trading just below the previous day's monthly low amid diverging forces. A hawkish RBA continues to support the Aussie, while the recent decline in US bond yields keeps the US Dollar depressed near a three-week low. However, oil-driven inflation fears reinforce Fed hike bets, which, along with geopolitical risks, could benefit the safe-haven buck and cap the currency pair.

USD/JPY drops to an over one-month low, around 156.00 after Japan's CPI report

USD/JPY attracts heavy follow-through selling on Friday, dropping to the 156.00 neighborhood, a one-month low, as Japan's National CPI report reaffirms bets for an imminent BoJ rate hike and boosts the Japanese Yen. Moreover, the recent steep fall in US bond yields counters hawkish Fed expectations and geopolitical risks, undermining the US Dollar and exerting additional pressure on the currency pair.

Gold seems vulnerable near August lows; eyes $4,000 break amid Fed hike bets

Gold touches a fresh low since early August during the Asian session on Friday, eyeing the key $4,000 psychological mark. Oil-driven inflation fears reinforce December Fed hike bets and continue to undermine the non-yielding bullion, which fails to benefit from the recent steep fall in US bond yields and the prevailing US Dollar selling bias. Moreover, the overnight breakdown below a trading-range support backs the case for further depreciation.

Bitcoin falls 4% as chip stocks plunge 6.7% and oil surges

Bitcoin (BTC) fell below $82,000 on Thursday as the crypto market joined a broader market sell-off driven by concerns over artificial intelligence (AI) spending, rising oil prices and escalating geopolitical tensions involving the US and Iran. The top crypto fell 4% to $81,130 as macro fears weighed on prices across the digital asset market.

The Bank of England just got its clearest reason to hike. Here's what it's really watching

UK inflation as measured by the CPI accelerated to 3.5% YoY in September, up from 3.1% in August, according to the Office for National Statistics. This is the highest level since October 2025, exceeding economists' expectations of 3.4% and pushing inflation further from the BoE's 2% target.

What November 3 means for the Fed's rate path and the US Dollar

The USD faces a decisive period ahead of the November 3 midterm elections. While markets anticipate another interest rate increase from the Fed in December, the battle for control of Congress could reshape fiscal policy expectations and, indirectly, the path of US monetary policy in 2027.