WTI Price Dips to $91.50 Amid Middle East Tensions

WTI oil prices dipped to $91.50 on Friday as Middle East tensions weighed on markets, limiting deeper losses.

The US-Iran standoff continues to drive up the geopolitical risk premium for crude oil, supporting WTI prices despite some selling pressure during the Asian session.

Technical analysis shows that WTI remains capped by its long-term trend structure, with resistance at $94.08 and $93.28, suggesting a bearish near-term bias.

The Relative Strength Index (RSI) holds in neutral-positive territory near 53, while the Moving Average Convergence Divergence (MACD) stays above zero with a positive histogram, hinting at only a modest recovery attempt within a broader corrective phase.