Crude Oil (WTI)

Bearish

Archived analysis from Aug 7, 2026, 8:40 PM

Key insight

76.38 holds demand zone ($75.10–$75.80) by a thread — break opens path to $73 Oct 2025 swing low.

Down ~10% on the week; Hormuz deal uncertainty and rising US inventories cap any recovery above $78.

Main risk

Strait of Hormuz Resolution

Iran-Oman deal with restricted transit caps upside; full reopening would crater the geopolitical premium.

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