⛽ OIL erases gains on OPEC+ concerns

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Oil prices took a hit this afternoon after media reports surfaced hinting at a possibility of another meeting delay. It was noted that talks among OPEC+ members on output levels are difficult and that delaying a meeting further while rolling over current policy remains a possibility. Oil dropped around 1% in a knee-jerk move with Brent (OIL) testing $80 per barrel.

Taking a look at OIL at H1 interval, we can see that price erased all of daily gains and dropped into negative territory. A pullback plays well into a bearish technical setup given that it occurred after a failed attempt at breaking above 200-hour moving average (purple line).

Source: xStation5

11 February 2026, 1:15 PM

Market wrap: Oil gains amid US - Iran tensions 📈 European indices muted before US NFP report

11 February 2026, 12:29 PM

📈 Gold jumps 1.5% ahead of NFP, hitting its highest level since Jan. 30

11 February 2026, 7:57 AM

Silver rallies 3% 📈 A return of bullish momentum in precious metals?

10 February 2026, 6:47 PM

Daily summary: Weak US data drags markets down, precious metals under pressure again!

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