Crude Oil (WTI)

Bullish

Archived analysis from Aug 12, 2026, 3:34 AM

Key insight

$83.08 holds after 4-day rally; Strait of Hormuz blockade intact — break above $84.61 opens $87 Brent parity.

Hormuz deal collapse drives 4th straight gain; $84.61 intraday high tested as Iran hardens position.

Main risk

Surprise Hormuz deal announcement

Deal rumor last week triggered 7%+ selloff; full agreement would flush $5–8 risk premium fast.

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