Crude Oil (WTI)

Bearish

Archived analysis from Aug 6, 2026, 2:08 PM

Key insight

Hormuz draft deal awaits Iran's supreme leader approval — passage reopening removes the war-premium that drove WTI above $80

Hormuz deal near-finalised; EIA crude build adds supply pressure vs $76 resistance

Main risk

Hormuz deal collapses / Iran rejects

Rejection sends WTI back toward $82–$85 war-premium range instantly

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