Oil prices remain trading flat above the 45.26 support level. Price action has been trading above this level since the start of the week.
However, failure to make any new highs could see the support level coming under pressure. If the support breaks, then we could expect oil prices to make a sharp correction.
The declines could push oil prices down to the 43.50 level of support. As long as this level holds, oil prices could remain slightly biased to the upside.
There is also a possibility for oil to trade flat within these said levels.