Middle East Escalation Sends WTI Crude Oil Soaring Above $91

WTI Crude Oil has surged above $91 as tensions in the Middle East escalate, according to DailyForex. The energy market saw a significant increase in volumes last night and remained volatile early this morning.

The conflict between Iran and the US has intensified, with news of targeted attacks on Gulf State nations and nearby locales. As rhetoric heated up late yesterday, WTI Crude Oil traders began to react.

While some may be tempted to jump into the market to catch price velocity, day traders need to remain realistic about the speed of price changes in WTI Crude Oil.

The rapid climb in WTI Crude Oil encountered resistance and then reversed lower late last night, but values remain elevated as large players digest the latest rise in tensions. Technical traders are looking at a price above $91.000, with fundamental fears and shifts in sentiment driving volatility.