Crude Oil (WTI)

Neutral

Archived analysis from Aug 11, 2026, 1:25 PM

Key insight

$80.93 caught between Hormuz deal optimism (bearish) and SPR at 43-yr low — range-bound until diplomatic clarity.

Hormuz deal hopes cap upside at $83; SPR below 300mb floor limits downside at $78.

Main risk

US-Iran Strait of Hormuz deal

Deal confirmation crashes geopolitical premium — $78 support tested immediately.

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