WTI
103.186
Today
+4.35%
5 Days
+4.23%
1 Month
+11.56%
6 Months
+6.85%
Year to Date
+80.07%
1 Year
+67.81%
Key Data Points
Opening Price
98.846Previous Closing Price
98.885WTI 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.
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.
West Texas Intermediate (WTI) oil price remains stronger for the second successive day, trading around $98.80 per barrel during Asian hours on Friday. WTI price remains near its highest level in five weeks, driven by escalating geopolitical tensions and supply risks in the Middle East.
West Texas Intermediate (WTI) Oil rebounds on Thursday as ongoing tensions in the Middle East keep supply risks elevated, maintaining a significant geopolitical risk premium in energy markets. At the time of writing, WTI trades around $99, hovering near five-week highs and up 1.40% on the day.
