Geopolitical Escalation & Inventory Draw Lift WTI Toward $95

WTI advanced for a third straight session and neared the $95 threshold amid dual bullish catalysts from geopolitics and US supply fundamentals.

Middle East tensions intensified: Iran fired ballistic missiles at regional nations, and US troops conducted retaliatory airstrikes on Qeshm Island. While Iranian state media claimed bilateral talks were halted, US President Trump affirmed active US-Iran negotiations, sustaining persistent geopolitical risk premium for crude.

On the supply front, private inventory data revealed a 6.8-million-barrel weekly US crude stock drop, poised to extend the run of six consecutive official inventory declines if verified by federal statistics.

Technical Analysis

The commodity holds a solid bullish technical setup with all tracked momentum gauges pointing upward.

Oscillators: RSI sits at 71.04 in bullish territory; StochRSI and Williams %R flash overbought signals, hinting at short-run consolidation risk amid the prevailing uptrend, while MACD maintains positive readings to back underlying bull momentum.

Resistance: 95.83, 96.10, 96.62

Support: 95.04, 94.52, 94.25

Near-term bull bias stays intact. A sustained breakout above 95.83 unlocks further upside toward the 96.10–96.62 resistance zone; any corrective pullback will likely find robust buying support around 95.04.

Data Source: Investing.com