Oil Prices Hold Bullish Bias Despite Weekly Flat Close

Oil prices finished the week almost unchanged overall.

Brent oil became slightly cheaper, while domestic crude became slightly more expensive.

Brent fell to $101.53 during the week but recovered to $103.90.

Analysts say Brent still has an upward trend if it stays above important support levels.

Its support zone is between $101.50 and $98.

If prices recover, Brent could rise to $115.

Domestic crude futures reached ₹9,769 before falling back to ₹9,223.

Analysts consider the fall a correction and expect a bullish outlook while prices remain above ₹8,500.