Crude oil futures prices closed at $83.65 with active speculative trading ahead of OPEC+ monthly report. Market consensus leans toward extended supply discipline, supporting bullish positioning. The Majority of Traders Are Betting that Gas Prices Will Go Up This Week. Here’s Why. Crude oil futures posted a sharp weekly decline, pressured by a renewed wave of supply-side concerns and deteriorating demand outlooks. After reaching a seven-week high early in the week, WTI crude retreated aggressively, driven by speculation of an OPEC+ production hike, the return of Kurdish exports, and signs of softening global consumption. By Thursday, prices had notched a four-day losing streak, and sentiment turned decisively bearish. Crude oil futures prices surged to $85.07 intraday, with traders buying the dip after last week’s sell-off. A bullish moving average crossover suggests potential retest of April highs if supply disruptions intensify.
