WTI Crude Oil Makes Strong Comeback on Geopolitical Tensions

WTI crude oil has made a strong comeback after hitting a low near $66.64, and is now trading at around $86.47 as the rally continues to gain momentum.

The price surge comes after a sharp rally in early 2026 that saw crude hit a high before pulling back sharply through the summer months.

According to Fibonacci analysis, there are several potential ceilings for WTI crude oil, including the 38.2% level at $91.75 and the 50% extension just above at $99.51.

If crude can clear the $91.75 mark and sustain gains above it, the door could open for a test of the higher Fib extensions and a longer-term reversal of the corrective slide.