Crude Oil (WTI)

Bearish

Archived analysis from Aug 7, 2026, 1:26 PM

Key insight

76.10 trapped between Hormuz headline risk and inventory overhang — break of $74.50 200-day MA opens drop to $71.

Hormuz partial-reopening deal caps upside; US inventories +2.5M bbl week ending Jul 31 adds supply pressure.

Main risk

Strait of Hormuz deal collapse / escalation

Full Hormuz closure would spike WTI toward $92+ seen on prior escalation week.

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