Geopolitical tensions in the Middle East drive WTI prices higher amid concerns over potential oil supply disruptions.
West Texas Intermediate crude oil trades at $84.90, approaching $85.00 as escalating Middle East tensions fuel supply disruption fears. The benchmark remains below its 100-day simple moving average despite the uptick.
Prices have fluctuated in recent sessions amid mixed signals on global demand and supply risks. The 100-day SMA has acted as a technical resistance level, capping further gains despite geopolitical pressures.
Market participants are monitoring developments in the region for signs of broader supply impacts, though immediate price reactions remain constrained by technical factors.