After three consecutive sessions of gains, WTI reversed lower and dropped into the $94–95 per barrel range. The decline is being driven by reports of potential progress in negotiations between the United States and Iran, as well as news of a possible de-escalation in certain areas of the Middle East conflict.
Some market participants have started taking profits following the sharp rally seen in recent days.
Geopolitical premium is easing but not disappearing
Despite the current pullback, fundamental risks remain elevated. The Strait of Hormuz is still operating under non-standard conditions, and the situation surrounding Iran remains highly unstable. For this reason, the current decline is viewed as a reduction in the geopolitical risk premium rather than the beginning of a full-scale downtrend. The market continues to closely monitor any signals related to negotiations and supply security.
U.S. inventories continue to support prices
Stronger-than-expected U.S. inventory data is helping to limit deeper losses. Crude oil inventories have declined for six consecutive weeks, with the most recent drop significantly exceeding market expectations. This confirms a persistently tight supply-demand balance and caps the downside potential.
Key level — $95 per barrel
In the coming days, the $94–95 range remains critical for WTI. Holding above this zone would preserve the medium-term bullish scenario, with potential for a move back toward $100 per barrel. However, if diplomatic efforts continue to progress and supply disruption risks diminish, the market could test support in the $90–92 range. For now, the price action appears to be a technical correction following an overheated rally rather than a reversal of the upward trend.
A move back above $95 would open the way toward $96–97. As noted previously, including in the article WTI tests $97 as traders reprice risk premium, developments in the Middle East will continue to play a key role in shaping oil futures dynamics.
-
Afghanistan
-
Albania
-
Algeria
-
Angola
-
Argentina
-
Armenia
-
Australia
-
Austria
-
Azerbaijan
-
Bahamas
-
Bahrain
-
Bangladesh
-
Belarus
-
Belgium
-
Bolivia
-
Botswana
-
Brazil
-
Brunei
-
Bulgaria
-
Cambodia
-
Cameroon
-
Canada
-
Chile
-
China
-
Colombia
-
Congo
-
Costa Rica
-
Cote d'Ivoire
-
Croatia
-
Cuba
-
Cyprus
-
Czechia
-
DR Congo
-
Denmark
-
Dominican Republic
-
Ecuador
-
Egypt
-
El Salvador
-
Estonia
-
Eswatini
-
Ethiopia
-
Finland
-
France
-
Georgia
-
Germany
-
Ghana
-
Greece
-
Haiti
-
Hong Kong
-
Hungary
-
India
-
Indonesia
-
Iran, Islamic republic
-
Iraq
-
Ireland
-
Israel
-
Italy
-
Jamaica
-
Japan
-
Jordan
-
Kazakhstan
-
Kenya
-
Korea
-
Kuwait
-
Kyrgyzstan
-
Laos
-
Latvia
-
Lebanon
-
Lesotho
-
Libya
-
Lithuania
-
Luxembourg
-
Madagascar
-
Malaysia
-
Malta
-
Mauritius
-
Mexico
-
Moldova
-
Mongolia
-
Montenegro
-
Morocco
-
Mozambique
-
Myanmar
-
Namibia
-
Nepal
-
Netherlands
-
New Zealand
-
Nigeria
-
North Macedonia
-
Norway
-
Oman
-
Pakistan
-
Palestine
-
Panama
-
Papua New Guinea
-
Paraguay
-
Peru
-
Philippines
-
Poland
-
Portugal
-
Puerto Rico
-
Qatar
-
Reunion
-
Romania
-
Rwanda
-
Saudi Arabia
-
Serbia
-
Singapore
-
Slovakia
-
Slovenia
-
Somalia
-
South Africa
-
Spain
-
Sri Lanka
-
Sweden
-
Switzerland
-
Syria
-
Taiwan
-
Tajikistan
-
Tanzania
-
Thailand
-
Trinidad and Tobago
-
Tunisia
-
Turkey
-
UAE
-
Uganda
-
Ukraine
-
United Kingdom
-
United States
-
Uruguay
-
Uzbekistan
-
Venezuela
-
Vietnam
-
Yemen
-
Zambia
-
Zimbabwe
- Forex
- Crypto
