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Commodities

WTI Price Consolidates Below $96 as Middle East Tensions Continue

Guavy AI Editorial Team
Instruments
Oil
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West Texas Intermediate (WTI), the benchmark US Crude Oil price, remains stuck in consolidation mode below $96.00 after a modest bounce from its weekly low of $94.65.

The latest geopolitical jitters in the Middle East are continuing to favor bulls as tensions between Iran and the US remain high.

US President Donald Trump has hinted at making a major decision on whether to resume large-scale attacks on Iran, which is keeping the premium for crude oil prices intact.

WTI's technical indicators show that it remains in a bullish near-term bias above its 100-day Simple Moving Average (SMA) and the 61.8% Fibonacci retracement of its May-July corrective fall.

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