Oil slips 3% 📉 Will the price fall below $80?

Brent crude (OIL) is down nearly 3% today, trading around $81 per barrel. If the current weakness persists, the market could naturally gravitate toward a test of the $73–76 range — the levels seen in late February and early March, before the Israeli and U.S. strikes on Iran. On the daily timeframe, the RSI stands at 31.2, a very low reading that suggests the market is approaching oversold territory (which should not be confused with a signal of trend reversal). Meanwhile, the MACD indicator does not yet point to fading downside momentum. It appears that the ceasefire in the Persian Gulf arrived at a critical moment, removing the risk of significant supply disruptions from the market. As a result, investor attention is once again shifting toward production dynamics rather than physical constraints on oil flows.

Today, Iran's ISNA news agency reported that the U.S. blockade of the Strait of Hormuz is in the process of being dismantled. Markets could soon see headlines highlighting a surge in shipping activity, including oil tanker traffic through the strategic waterway. This new reality may allow the futures market to gradually erase the geopolitical risk premium that had been built into prices. Despite ongoing concerns regarding supply and inventories, oil futures could return to a more normalized pricing environment faster than spot markets. The prevailing trend remains bearish, and unless bulls manage to push prices back above the key $87 resistance level, the base-case scenario continues to point toward a risk of further downside.

OIL (D1 timeframe)

Source: xStation5

31 July 2026, 10:01 AM

Euro Area core inflation above estiamtes! EURUSD under key resistance!

31 July 2026, 9:12 AM

Chart of the Day: EURUSD after the Fed meeting. The market scales back rate hike expectations

31 July 2026, 7:36 AM

Economic Calendar: Key European CPI Readings and Oil Giants’ Earnings

31 July 2026, 6:53 AM

Morning Wrap: AI Fuels the Rebound. Technology Makes a Strong Comeback

Commodities

Cookie name	Description
SERVERID
userBranchSymbol	Expiration date 1 day
test_cookie	Expiration date 1 hour
adobe_unique_id	Expiration date 364 days
__hssc	Expiration date 1 hour
SESSID	Expiration date 1 day
__cf_bm	Expiration date 1 hour
intercom-id-iojaybix	Expiration date 270 days
intercom-session-iojaybix	Expiration date 6 days
xtbCookiesSettings	Expiration date 364 days
TS5b68a4e1027
countryIsoCode
xtbLanguageSettings	Expiration date 364 days
userPreviousBranchSymbol	Expiration date 364 days
intercom-device-id-iojaybix	Expiration date 270 days
__cfruid
_cfuvid

Cookie name	Description
_gid	Expiration date 1 day
_gat_UA-98728395-1	Expiration date 1 hour
_gat_UA-121192761-1	Expiration date 1 hour
_gcl_au	Expiration date 89 days
_ga_CBPL72L2EC	Expiration date 729 days
_ga	Expiration date 729 days
__hstc	Expiration date 179 days
__hssrc
_vwo_uuid_v2	Expiration date 365 days
_ga_TC79BEJ20L	Expiration date 729 days
_vwo_uuid	Expiration date 365 days
_vwo_ds	Expiration date 29 days
_vwo_sn	Expiration date 1 hour
_vis_opt_s	Expiration date 99 days
_vis_opt_test_cookie
af_id	Expiration date 394 days
afUserId	Expiration date 730 days
AF_SYNC	Expiration date 6 days
AnalyticsSyncHistory	Expiration date 29 days

Cookie name	Description
MUID	Expiration date 389 days
_omappvp	Expiration date 3998 days
_omappvs	Expiration date 1 hour
_uetsid	Expiration date 1 day
_uetvid	Expiration date 389 days
_fbp	Expiration date 89 days
fr	Expiration date 89 days
_ttp	Expiration date 89 days
_tt_enable_cookie	Expiration date 89 days
hubspotutk	Expiration date 179 days
IDE	Expiration date 389 days
YSC
VISITOR_INFO1_LIVE	Expiration date 179 days
li_sugr	Expiration date 89 days
guest_id_marketing	Expiration date 729 days
guest_id_ads	Expiration date 729 days
guest_id	Expiration date 729 days
muc_ads	Expiration date 729 days
VISITOR_PRIVACY_METADATA	Expiration date 179 days
MSPTC	Expiration date 389 days

Cookie name	Description
bcookie	Expiration date 364 days
lidc	Expiration date 1 day
UserMatchHistory	Expiration date 29 days
bscookie	Expiration date 364 days
li_gc	Expiration date 179 days
personalization_id	Expiration date 729 days