WTI Breaks Above $86 as US-Iran Tensions Fuel Supply Concerns

West Texas Intermediate (WTI) crude oil prices have rallied for a second consecutive session, reaching above $86.00 as geopolitical tensions between the US and Iran continue to escalate.

The price action remains firmly above the 38.2% Fibonacci retracement at $82.60, with the Moving Average Convergence Divergence (MACD) indicator slightly positive and the Relative Strength Index (RSI) near 58, indicating ongoing buying interest.

Bulls retain control unless WTI closes convincingly below $82.60, which would undermine the current constructive outlook and potentially expose deeper levels at $76.77 or $67.36 if a more pronounced correction were to materialize.