Crude Oil Price Forecast for Today, Tomorrow, Next Week, and 30-Day Forecast
Clear oil prices forecast with key levels, market drivers and outlook for today, the week ahead and the next 30 days to guide trading decisions.
This WTI oil technical analysis covers the main factors driving oil prices: OPEC+ decisions, US inventory data, geopolitical risks, and global demand. See why Crude oil remains a highly liquid instrument for trading in the market, and follow the latest oil price forecast for crude oil.
Key Takeaways
On the intraday timeframe, oil continues to face pressure near the $87.00 zone; a break lower opens the path toward $85.00, with stops best placed above recent bounce highs.
The H4 chart shows $86.50 as a critical support that has already triggered one rebound to $91.00—traders should watch the reaction here closely before committing to further downside.
Weekly bias remains bearish after the sharpest weekly decline since 2020; sustained weakness favors a move toward the mid-$80s.
On the daily chart, the trend is firmly negative, with a medium-term objective near $75.00 still in view if geopolitical de-escalation continues.
Over the next 30 days the outlook hinges on Iran-related supply risks versus the prospect of additional Middle Eastern barrels returning to the market.
Latest WTI Crude Oil Technical Analysis for Today
H1: Oil currently finds support around $87.00, but the recent upward correction looks fragile. After the steepest weekly drop since 2020, selling pressure is expected to persist and push prices toward $85.00.
RSI: 46,10
MACD: Neutral
MA: $89,62
H4: The stronger support near $86.50 is also under notable pressure, even though it previously sparked a rebound to $91.00. Traders need to monitor how price reacts to this zone to gauge the likelihood of further declines.
RSI: 37,44
MACD: Bullish
MA: $89,74
Oil Trading Plan for Today
- Supports: $87.00, $86.50, $85.00
- Resistances: $89.50–$90.00, $91.00
- Base scenario: Decline toward $85.00 and lower.
- Alternative scenario: Rebound higher from the $86.50 area.
Oil Live Price Today
WTI is trading near $90 after a sharp multi-day sell-off driven by hopes of reduced geopolitical risk following U.S. midterm results. The market remains sensitive to any sign that additional Middle Eastern supply could return, keeping the bias cautious even as residual Hormuz-related tensions provide a floor.
Geopolitical premium is easing: U.S. midterm outcomes have raised expectations of possible de-escalation with Iran and a gradual restoration of regional oil flows. At the same time, attacks on shipping and continued strain around the Strait of Hormuz still offer intermittent support.
The market stays highly sensitive to the risk of a supply surplus if extra barrels from the Middle East re-enter the system. Iranian media report that CENTCOM has urged Israeli forces to prepare for a third wave of strikes on Iran, while Secretary Rubio described talks with Tehran as unproductive and the Iranian demands as unacceptable or even outrageous in places.
On the daily timeframe the trend remains strongly negative. The medium-term target is projected in the region of $75.00 if the current downward momentum is sustained.
Oil Price Forecast for Tomorrow
Tomorrow the price is likely to continue lower, although confirmation will depend on the actual reaction at the $86.50 support.
Will oil go up tomorrow? A rebound remains possible if buyers successfully defend $86.50, despite the prevailing negative momentum.
Oil Price Forecast for This Week
Key data releases this week will drive volatility and could shift the supply-demand narrative.
- 10 Nov, 17:00 UTC: EIA STEO oil market outlook. High – revised production, demand, and global balance forecasts
- 9–10 Nov, ~21:30 UTC: API weekly stocks. Medium – preliminary U.S. inventory reading
- 11 Nov: OPEC Monthly Oil Market Report. High – demand, supply and balance assessment
- 12 Nov, 17:00 UTC: EIA weekly petroleum stocks. High – actual U.S. crude and product inventory changes
- 13 Nov, 09:00 UTC: IEA Monthly Oil Market Report. High – independent global demand, supply and stock evaluation
| Date |
November 9 – November 13, 2026 |
| Minimum | $88,59 |
| Average |
$89,50 |
| Maximum |
$90,52 |
Focus remains on any revision to the expected global surplus/deficit, estimates of Middle Eastern flows, and the trajectory of U.S. inventories. These factors are most likely to alter the current market balance assessment.
Oil Price Forecast for the Next 30 Days
- 10 November — EIA STEO. Revised production, demand and price projections
- 11 November — OPEC Monthly Report. Global demand, supply and output assessment
- 12 November — EIA inventories. U.S. supply-demand balance
- 13 November — IEA report. Global oil balance, refining and stocks
- 18 & 25 November — EIA inventories. Ongoing U.S. market dynamics
- 29 November— OPEC+ meeting. Production guidance decisions for 2027
Over the coming month, direction will be driven primarily by developments around Iran and the Strait of Hormuz, followed by actual supply volumes and inventory trends.
The 1 November OPEC+ decision is already priced in; the next major cartel-related risk is the 29 November gathering.
WTI price outlook next month leans lower, with the $75–$80 zone as a realistic WTI price target should geopolitical de-escalation and rising supply risks materialize
Oil Price Analysis and Forecasting Methodology
Our oil forecast methodology combines fundamental analysis of supply-demand balances, OPEC decisions, inventories, and geopolitical risks with technical analysis of price charts, trends, and key levels. We also factor in market sentiment from positioning data and news flow. This multi-layered approach to calculating oil price forecasts delivers balanced, data-driven projections you can rely on.
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Summary
WTI faces continued downside pressure after a record weekly drop, with $86.50 and $85.00 as the immediate levels to watch. Geopolitical hopes of reduced Iran risk are competing with lingering Hormuz tensions and the prospect of extra supply. The path of least resistance points lower toward the mid-$70s over the coming weeks unless buyers stage a decisive defense of key support levels.
The trade levels, signals and forecasts in this article are calculated automatically from technical indicators and price history. They are not investment advice or a recommendation to buy or sell any financial instrument. Past performance and forecasts do not guarantee future results. Risk Warning: CFDs are complex financial products traded on margin. Trading CFDs is risky and may not be suitable for all investors. Ensure you understand the risks involved as you may lose all your invested capital.
Crude Oil Price Forecast FAQs
What is the current price of Crude Oil now?
November 10, 2026
$85.50
When Will Oil Prices Drop?
Oil is already under pressure and may test $85–$86.50 soon. A sustained break below $86.50 would accelerate the decline toward the mid-$80s and potentially $75 in the medium term if geopolitical risks ease further.
Will Oil Rise or Fall Next Week?
The bias remains lower. Key data (EIA STEO, OPEC and IEA reports, U.S. inventories) could reinforce selling if they signal a larger surplus. A rebound is possible only if $86.50 holds firmly.
How Do We Do Oil Technical Analysis?
We combine chart patterns, support/resistance, moving averages, RSI and MACD with fundamental factors like supply data, inventories and geopolitics. This integrated approach strengthens trend signals and improves forecast accuracy in our oil reviews.
How to Trade Oil Technical Analysis?
Follow the ready technical setups and levels provided in our daily oil reviews. We already combine indicators with fundamental context, so you receive clear entry zones, targets and risk parameters without extra work.
Khaled Kamal is a Market Analyst & Business Development Manager at Investizo with several years of experience in the financial services industry. His areas of focus include forex markets, trading strategies, risk management, copy trading and the practical aspects of financial markets.
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