WTI Price Eases on Friday, But Bullish Tone Remains

WTI oil prices eased on Friday after a 6% jump the previous day, but the widening Middle East war is limiting downside pressure as supply risks intensify around two major energy-shipping routes.

The WTI price has rebounded significantly from near $67 at the start of the month and reclaimed its key Simple Moving Averages (SMAs), including the 100-day SMA at $88.30, which serves as immediate support.

Momentum indicators, such as the Relative Strength Index (RSI) and Moving Average Convergence Divergence (MACD), are reinforcing the bullish tone, suggesting that buyers retain control.