Crude Oil Futures Rise During European Session Amid Technical Buying

Key Facts

1Crude oil futures experienced a notable increase during the European session on Friday.

Following weeks of volatility in energy markets, crude oil futures experienced a notable increase during the European session on Friday. According to reports, prices showed upward momentum during the trading window, indicating an intraday recovery in price action. Analysts suggest this movement was likely driven by technical buying or short-term shifts in market sentiment.

This rise occurs as markets monitor global demand stability, with mixed economic data from major economies influencing trader sentiment. Looking at peer performance per market data, global energy prices found support from marginal improvements in manufacturing indices, as China's Manufacturing PMI reached 50.6 on June 30, 2026, up from the previous 50.5 reading.

Investors should watch for immediate resistance levels as trading continues, with markets remaining sensitive to upcoming inflation data. On the economic calendar, traders are awaiting the Commitment of Traders (CFTC) report for deeper insight into market positioning, while also weighing the impact of UK GDP data, which showed a 0.9% year-on-year growth as of June 30, 2026.