Crude prices climbed 2.07% as US airstrikes in Iran and a 7.4 million barrel inventory decline fueled buying pressure.
Crude oil futures settled at $90.03, rising $1.83 or 2.07% amid heightened Middle East tensions after the US continued airstrikes in Iran. The session high reached $91.84, supported by a 7.4 million barrel decline in crude inventories.
Prices briefly surpassed key moving averages at $91.07 and $91.64 but failed to sustain momentum, retreating as sellers maintained control. The next downside target lies between $85.45 and $86.35, with a break below potentially accelerating losses toward $78.97.
Despite geopolitical risks, the rally remained muted, suggesting markets anticipate a potential de-escalation or resolution. Buyers must hold above moving averages to shift sentiment bullish.