WTI Oil Eyes $98 as Bullish Momentum Builds

WTI crude oil is holding firmly above $93, with the short-term trend remaining bullish as geopolitical supply risks continue to support prices. Momentum remains constructive, although the recent rally leaves room for a short-term pullback.

The next major resistance zone is around $98–$100. A sustained move through this area would bring the previous swing high near $107 back into focus.

On the downside, $91–$92 is the first area to watch if prices retreat. A deeper correction could bring $86–$87 into play, where buyers may look to defend the broader uptrend.

Fundamentally, oil still has plenty of support. Renewed attacks on Saudi energy infrastructure and ongoing risks around the Strait of Hormuz are keeping a significant geopolitical premium in crude prices. WTI has now closed at its highest level since early June.

With WTI back above $93, the $98–$100 zone is becoming the next real test for the rally. Whether prices can push through it may depend as much on the next developments in the Middle East as on the technical setup.