On Monday (December 16th), US crude oil experienced a slight decline during the Asian trading session, trading around $70.99 per barrel. The fundamentals mainly focused on the expected rebound in global demand, supporting the rise of oil prices. Last week, it rose nearly 6%, and the weekly chart showed signs of being swallowed up, returning to the upper edge of the box.

Regarding the geopolitical situation and the possibility of stricter sanctions on Russia and Iran, the pressure on the crude oil supply side has further increased. At the same time, EIA inventories have decreased, and short-term crude oil prices are mostly bullish, waiting for the direction of inertia to rise.

This week marks the last super week of the year, with the most crucial being the Federal Reserve's interest rate decision. If the boots land and support the strengthening of oil prices, there is hope for an upward breakthrough. In addition, we will continue to monitor changes in EIA inventory data.

Syrian sources say Russian troops are retreating, but will not withdraw from their bases

Four Syrian officials told the media that after the fall of President Bashar al Assad, Russia is withdrawing its troops from the front lines in northern Syria and outposts in the Alawite Mountains, but will not leave its two main bases in Syria.

Bashar al Assad formed a close alliance with his late father, former President Hafez, and Moscow, and his downfall has raised questions about the future of the Hmeimim Air Base in Latakia and the Tartus Naval Facility in Russia.

Syrian military and security personnel who have had contact with the Russian side said that Moscow is withdrawing troops from the front line and has withdrawn some heavy equipment and senior Syrian officers.

But sources say that Russia has not withdrawn from its two main bases and currently has no intention of doing so. A senior rebel official with close ties to the new interim government told reporters that the issue of Russia's military presence in Syria and the agreements reached between the Bashar government and Moscow in the past are not under discussion.

The official said, 'This is a matter for future talks, and the Syrian people will have the final say,' adding that Moscow has established communication channels. He added, 'Our troops are now also near the Russian base in Latakia,' but he did not elaborate.

The Kremlin stated that Russia is in discussions with the new rulers of Syria regarding the issue of bases. The Russian Ministry of Defense did not respond to a request for comment. A Russian source who declined to be named said that discussions with the new rulers of Syria are ongoing and Russia will not withdraw from the base.

Continue to monitor whether the uncertainty of the geopolitical situation supports further pressure on the supply side of oil prices.

The EU has imposed the 15th round of sanctions on Russia, targeting the "shadow" tanker fleet that supports the country's crude oil exports

Analysts predict that the United States will also implement similar restrictive measures to further tighten supply. The idea of reducing offshore Russian oil is still fresh, "said John Evans, a petroleum analyst at PVM

The tense situation surrounding Iran also supports bullish reasons. Western powers including the UK, France, and Germany have expressed their readiness to restore international sanctions to curb Iran's nuclear ambitions.

From a technical perspective, the US crude oil daily chart has broken through the pressure of the moving average and is approaching the upper edge of the box, indicating the possibility of further strengthening in the short term. Meanwhile, the MACD indicator continues to rebound upwards. If the moving average simultaneously turns upwards, the short-term oil price will remain bullish, with important support around the $70 integer level for the day.