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Commodities

WTI Breaks Above $93.18 as Geopolitical Tensions Escalate

Guavy AI Editorial Team
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Oil
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WTI crude oil has broken above $93.18 resistance and is trading around $93-$94, supported by escalating U.S.-Iran tensions, reduced Strait of Hormuz traffic, and a significant reduction in Middle Eastern oil flows.

The market's fundamental backdrop remains bullish because it's dealing with actual supply disruption rather than simply geopolitical fear.

Technically, holding above $93.18 keeps $94.66 and $96.14 in play, while another major disruption to Gulf infrastructure could quickly bring the $100 WTI conversation back into focus.

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