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Commodities

WTI Crude Oil Prices Soar 6.17% Amid Geopolitical Tensions

Guavy AI Editorial Team
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Oil
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Crude oil prices continue to rise, settling at $92.19 per barrel after a significant increase of 6.17% on the day.

This marks the second consecutive day of gains for WTI crude oil futures, which have been driven higher by escalating geopolitical tensions.

The recent rally has pushed the price back above its 100-day moving average at $89.71, a level not seen since June 12.

While the technical bias remains bullish as long as prices remain above $89.71, a sustained break above the 50% retracement of the decline from the March 9 high, located at $93.26, would be needed to strengthen the case for further gains.

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