Crude Oil (WTI)

Bullish

Archived analysis from Aug 12, 2026, 8:24 PM

Key insight

Break above $84.61 overnight high opens door to $87 Brent parity zone; Hormuz deadlock is the only driver.

Hormuz closure tightens supply; 5-day rally off $77 lows holds above $82 key round number.

Main risk

US-Iran Hormuz deal breakthrough

Sudden agreement reopens Strait; oil sold off 7%+ on Bessent's last deal signal.

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