WTI crude rises again as Middle East tensions persist

WTI crude rises again as Middle East tensions persist
WTI rises as Middle East tensions keep crude firm

​The conflict in the Middle East continues to set the tone for oil trading. Ahead of US-Iran talks, U.S. WTI crude came under selling pressure, with prices testing support near $90.00 per barrel.

As expected, the negotiations ended without results, which led to a gap higher at the open, with WTI climbing toward $98.00.

At this stage, the nearest support is seen around $96.00. A U.S. blockade of the Strait of Hormuz and the ongoing conflict could help prices break above current resistance and extend gains toward $100.00-$102.00 per barrel.

Any positive headlines may put pressure on WTI. Still, as long as the conflict continues, a large-scale decline in prices appears unlikely.

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