Skip to content
Guavy Logo GUAVY
Sign up
Back to Guavy Wire
Commodities

WTI Stuck in Descending Channel as OPEC+ Delays Quotas and Iran Strikes Tanker

Guavy AI Editorial Team
Instruments
Oil
Share

The price of crude oil is currently trading at $91.25 per barrel, down 1.78% from its previous close.

This movement comes as OPEC+ has delayed a review that sets its 2027 oil quotas, citing war-damaged projects as the reason for the delay.

Meanwhile, Iran has reportedly struck an oil tanker off the coast of Oman while it was passing through the Strait of Hormuz, raising supply risk and potentially adding a premium to shipping and insurance costs.

The price action suggests that WTI is currently stuck in a descending channel, with resistance at $94.087 and support at $89.139.

More on Commodities

Commodities 7m ago

RFS Mandates Inflate Diesel Prices, Critics Say

Commodities 10m ago

Gold Price in Pakistan Plummets by Rs4,300 per Tola

Commodities 10m ago

Silver Price Soars Then Plummets Amid Jobs Data Surprise

Disclaimer: Guavy is a data and market intelligence provider, not an investment adviser. The information, signals, and market analysis provided by the Guavy API and related services are for informational purposes only and are not intended as financial advice, investment recommendations, or an endorsement of any particular trading strategy. Trading in volatile markets, including cryptocurrency, carries significant risk and may not be suitable for all investors. Past performance is not indicative of future results. Users should consult with a qualified financial professional before making any investment decisions. Guavy makes no guarantee of trading profits or financial returns.

Guavy Logo GUAVY

Market sentiment intelligence for apps, funds & agents

Location

729 55 Ave SW
Calgary AB T2V 0G4
Canada

Navigate

Markets

Resources

© 2026 Guavy Inc

Terms Privacy Policy