WTI Nears $100 as Oil Rally Runs Into Resistance

Oil is climbing again, with WTI approaching $100 a barrel and Brent trading around $111.

The latest move comes as fresh attacks in Saudi Arabia raise concerns over supply disruptions. US crude inventories also fell by 3.06 million barrels last week, adding to the upward pressure on prices.

But after such a strong run, the market is starting to look a little different.

Brent has gained around 18% over the past two weeks, while WTI is up roughly 15%. Momentum is still bullish, but some technical signals suggest the rally is beginning to lose steam.

That puts the focus on the next few price levels.

WTI: $100 Is the First Test

WTI is now within striking distance of the $100 mark. A break above it could bring $102.50 into play, with $110 becoming the next level if the move gathers momentum.

Brent is facing a similar test around $113. A clear break there could open the way toward $120.

But if those levels continue to hold, the recent rally could take a breather.

Supply concerns → oil prices higher

WTI above $100 → $102.50 next

Brent above $113 → $120 comes into view

Resistance holds → pullback risk increases

WTI near $100 and Brent near $113 are the levels to watch.