WTI
101.128
Today
-2.01%
5 Days
+2.14%
1 Month
+9.54%
6 Months
+7.25%
Year to Date
+76.44%
1 Year
+65.33%
Key Data Points
Opening Price
102.178Previous Closing Price
103.186WTI Trading Strategy
Trading Strategy
Long positions above 79.90 with targets at 84.50 & 86.20 in extension.
Alternative scenario
below 79.90 look for further downside with 78.90 & 77.80 as targets.
Comment
long positions above 79.90 with targets at 84.50 & 86.20 in extension.
West Texas Intermediate (WTI) – the benchmark US Crude Oil price – builds on the weekly bearish gap-down opening, retreating further from a five-month high touched on Friday.
• WTI crude oil declined as investors engaged in profit-taking following recent geopolitical rallies. • A strong U.S. dollar and macroeconomic caution dampened international energy demand interest. • Technical indicators show a buy signal alongside neutral and overbought market conditions.
Two days of Houthi attacks in Saudi Arabia and strikes on ships leaving the Strait of Hormuz have taken WTI above the $95.00-$101.00 band it held from Monday to Thursday.
• Middle East geopolitical friction and targeted infrastructure attacks drove West Texas Intermediate crude futures higher. • United States commercial crude and gasoline inventories decreased, highlighting tight domestic supply fundamentals. • Technical indicators showed a buy signal, with the Relative Strength Index remaining neutral.
Oil rallies further on Friday, boosted by news of increasing incidents in vessels attempting to cross the key Strait of Hormuz this week, while the Iran-backed Houthis renewed their attacks on Saudi oilfields.
Rabobank strategist Molly Schwartz discusses conflicting narratives around Iran-related tanker damage in the Strait of Hormuz and rising Oil flows from the Persian Gulf.
