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WTI Crude Oil is trading near $95 as geopolitical tensions, particularly around the Strait of Hormuz, continue to influence energy markets. The commodity's price remains under pressure from ongoing blockades and regional instability, which have historically disrupted supply chains. Technical analysis suggests the $95 level is a critical psychological threshold, with traders closely monitoring for a breakout or reversal.
The uncertainty ahead of the weekend has heightened volatility, with market participants bracing for potential shocks from geopolitical developments. Traders are balancing short-term technical indicators against long-term supply-demand fundamentals. The Hormuz Strait, a vital global oil transit route, remains a focal point for risk assessments.
For the week ahead, investors should watch for updates on Middle East tensions and technical levels like $95.50 (resistance) and $93.50 (support). A sustained move above $95 could signal bullish momentum, while a drop below $93.50 might trigger bearish sentiment. Geopolitical news and OPEC+ policy shifts will also shape the trajectory.
