Crude Oil Monthly Forecast: June 2025 (Chart)

(MENAFN- Daily Forex)

• The Light Sweet Crude market has initially tried to rally during the course of May, but we have seen a lot of selling pressure, as we continue to hang out with the $60 level underneath offering a significant amount of support.
• That being said, we have been trading back and forth in a range as the $65 level has been massive resistance, with the $55 level underneath offering a significant amount of support.
• In other words, we have been range bound for a while, and I think we have to look at this through the present situation that we have in the oil market.

OPEC and Global Demand

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The crude oil markets continue to see a lot of problems, as OPEC continues to flood the market with supply. Furthermore, you also have to keep in mind that the demand could be a problem as well, as we see a lot of tariff discussion, and of course crude oil is a major factor of what happens with the global trade situation. After all, if you are going to move goods and services across the globe, you need plenty of crude oil. The Light Sweet Crude market is more US centric, but at the end of the day, you should also take a look at the US economy and the fact that the seasonality is typically very positive.

It's typically positive during June because Americans tend to travel so much. Furthermore, if the US economy does turn around, and some of the leading indicators are starting to suggest this despite the fact that the latest Preliminary that -0.2%, we could see the man pick up. If we can break above the $65 level, then I think June is the month we could see a turnaround. If we break down below the $60 level, then the bottom falls out. Ultimately, this is a market that needs to break out of a range, but if you are a short-term trader, you may find this range very helpful for positioning back and forth on short-term charts.

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